Harlem, Inc., was reviewing its assets for impairment at the end of the current year. Information about one of its assets is as follows:

Net book value................................. $ 1,300,000
Estimated future cash flows........... $ 1,050,000
Fair (market) value........................... $ 1,025,000

Harlem should report an impairment loss for the current year of

a. $275,000.

b. $25,000.

c. $0.

d. $250,000.