Navalis operates a river cruise boat carried at 2,400,000 at 31 December 20X1. A specialist ship broker values the price Navalis would obtain for the boat, net of costs of disposal, at 2,150,000, while management's projections result in a value in use of 1,980,000. Determine the recoverable amount of the boat.
- Carrying amount of the boat
- 2,400,000
- Fair value less costs of disposal
- 2,150,000
- Value in use
- 1,980,000