Flat Inc. owns equipment for which it paid 90 million. At the end of 2015, accumulated depreciation on equipment was 27 million. Due to adverse economic conditions, plant management determined that it should assess whether impairment should be recognized for the equipment. The estimated future cash flows (w/o discounting) to be provided by the equipment total 60 million, and it's fair value at that point is 40 million. Under these conditions plant;
a) record no impairment for loss on equipment
b) record 3 million impairment loss on equipment
c) record 23 million impairment loss on equipment
d) record 30 million impairment loss on equipment