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. No impairment loss b. 50000000 c. 30000000 d. 20000000