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2 4 luded in the financial assets of Traveler is a ten-year 7% loan. At 30 November 2011, the borrower was in financial difficulties and its credit rating had been downgraded. Traveler has adopted IFRS 9 Financial Instruments and the loan asset is currently held at amortised cost of $29 million. Traveler now wishes to value the loan at fair value using current market interest rates. Traveler has agreed for the loan to be restructured; there will only be three more annual payments of $