The following information is for a copyright owned by Venetian Corp., publicly accountable entity, at December 31, 2010:
Cost $ 4,300,000
Carrying amount 2,150,000
Expected future net cash flows (undiscounted) 2,000,000
Fair value 1,600,000
The copyright's value in use is $1,850,000 and the selling costs are $100,000. Assume that Venetian Corp. will continue to use this copyright in the future. As at December 31, 2010, the copyright is estimated to have a remaining useful life of 10 years.