Given data for equipment owned by the Greenleaf Company:

Cost $7,500,000

Accumulated Depreciation 2,000,000

Expected future net cash flows (undiscounted) 3,000,000

Expected future net cash flows (discounted) 2,700,000

Fair value 2,900,000

What is the impairment loss under IFRS?

Select one:

a. $4,600,000

b. $4,500,000

c. $2,600,000

d. $2,500,000

e. $2,800,000