On August 1, 2011, Wei Inc

Multiple Choice

On August 1, 2011, Wei Inc.purchased a license with a cost of HK$8,424,000 and a useful life of 10 years.At December 31, 2013, when the carrying value of the asset was HK$6,388,200, the company determined that impairment indicators were present.The fair less costs to sell the license was estimated to be HK$5,909,120.The asset's value-in-use is estimated to be HK$6,084,000.Wei's 2013 income statement will report Loss on Impairment of

A) HK$109,300.
B) HK$304,200.
C) HK$299,425.
D) HK$1,272,500.