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Assume that on 1 January 2017 X has a patent (limited life) on how to extract oil from shale rock. The expected future net cash

Assume that on 1 January 2017 X has a patent (limited life) on how to extract oil from shale rock. The expected future net cash flows from this patent 7500000 and the carrying amount $50000000. The fair value of its patent to be $20000000. The loss on impairment is

a.

50000000

b.

30000000

c.

20000000

d.

No impairment loss

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