According to accounting standards (such as IAS 36 / Ind AS 36), if an asset is determined to be impaired, which of the following statements is most accurate?

Xerses Co. owns a non-current asset that was previously impaired and written down to its recoverable amount. In the current year, the indicators that led to the impairment have reversed. According to IAS 36 Impairment of Assets, which of the following statements regarding the reversal is correct?

An entity owns a specialized machine with a carrying amount of $450,000 at 31 December 20X4. This machine had been previously revalued upwards, and a revaluation surplus of $120,000 exists in equity specifically relating to this asset. At 31 December 20X4, the following information is available: - Fair value less costs of disposal: $280,000 - Value in use: $310,000 How should the impairment loss be recognized in the financial statements for the year ended 31 December 20X4?