2. As a result of the decline in crude oil price environment, Mooncor Energy Inc. performed impairment tests on its Oil Sands segment as at December 31, 2015. The long-term assets of the CGU has a net book value of $2.2 billion. The company based its cash flow projections on WTI oil price. Fair value 1,700 M Expected cash flow 2016 400 M Costs to sell 100 M Expected cash flow 2017 500 M Expected cash flow 2018 700 M Expected cash flow 2019 800 M Risk-adjusted cost of capital 12% Based on the above estimates, Mooncor recorded an impairment loss of $440 million (see class notes for calculation). How much more impairment loss would Mooncor need to record if they had used a 1% higher discount rate? What would be the impact of this change on Mooncor's financial statements? What is the implication