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6. Intangible assets (continued)Impairment testing (continued)Discount ratesDiscount rates represent the current market assessment of the risks specifc to each CGU, taking into consideration the time value of money and individual risks of the underlying assets that have not been incorporated in the cash fow estimates. The discount rate calculation is based on the specifc circumstances of the Group and its operating divisions and is derived from its weighted average cost of capital (WACC). The WACC takes into account both cost of debt and cost of equity. Specifc industry risk is incorporated by applying individual beta factors. Adjustments to the discount rate are made to factor in the specifc amount and timing of the future tax fows in order to refect a pre-tax discount rate. A rise in the discount rate may impact the value in use calculation of the CGUs and the results of the impairment test.Growth ratesRates are based on industry research. This rate is used to extrapolate cash fows beyond the forecast period. For each of the CGUs, a decrease in the long-term growth rate may impact the value in use calculation of the CGUs and the results of the impairment test.Computer softwareIntangible assets also include the internal development cost arising from the implementation of Microsoft Great Plains in July 2013 and NEO Content Management System for Media in December 2016 which were recognised at fair value at the capitalisation date. Subsequent to initial recognition, computer software is carried at cost less amortisation and impairment losses where necessary, and is expected to have a fnite life not exceeding 7 years.GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2018(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)FINANCIAL REPORT 81