Fancy Retailing (FR) is a division of Huge Wholesale Corp. (HWC). Items of note for the company are as follows: HWC reports its financial results in accordance with IFRS. HWCs year end is December 31. FR is a cash-generating unit (CGU). HWC uses the cost model to report its property, plant and equipment and intangible assets. HWC tested the FR assets for impairment on December 31, 20X6. In conjunction with this impairment test, HWC compiled the following data (all amounts are in 000s): Asset Net book value Value in use Fair value less costs of disposal Land $ 6,000 $ 12,000* Buildings 10,000 Equipment 4,000 3,000 Patent 2,000 2,100 Goodwill 2,500 ? $ 24,500 $ 20,000 * The $12,000 is the combined fair value of the land and buildings sold in a single transaction. Which of the following statements is true with respect to the journal entry resulting from the December 31, 20X6, impairment test? a) An impairment loss of $182 must be recognized on the patent. b) An impairment loss of $1,000 must be recognized on the building. c) An impairment loss of $1,102 must be recognized on the land. d) The total impairment loss that must be recognized is $7,400.