24. Sun Bowl Inc. owns equipment for which it paid $70 million. At the end of 2018, it had accumulated depreciation on the equipment of $10 million. Due to adverse economic conditions, Sun Bowl's management determined that it should assess whether an impairment loss should be recognized for the equipment. The estimated undiscounted future cash flows to be provided by the equipment total $56 million, and the equipment's fair value is $35 million. Under these circumstances, Sun Bowl: A. Would record no impairment loss on the equipment. B. Would record a $4 million impairment loss on the equipment. C. Would record a $20 million impairment loss on the equipment D. Would record a $25 million impairment loss on the equipment. E. None of these answers is correct