Question: TEX's statement of financial position as at 31 March 20X5 includes a machine at cost of T$50,000 and related accumulated depreciation of T$25,000. A change in legislation which becomes effective in two years' time, may render the machine obsolete and as a result TEX carries out an impairment review. On 31 March 20X5 the market value of the machine is measured as T$20,000 but the disposal costs are T$5,000. TEX expects the machine to generate cash flows of T$8,000 per annum for two years and the discount factor for determining its value in use over the two years is 1.736. At what value should the machine appear in the statement of financial position as at 31 March 20X5?