On 1 January 2018, CAR Company acquired a patent from another form for $63,000 cash. The patent has a remaining legal life of 12 years and a remaining useful life of 9 years with no residual value. On 30 June 2018, there were indicators of impairment in regards to the patent. The patent is tested for impairment and its recoverable amount is measured at $50,000. CAR Company prepares financial statements annually on 30 June. What amount should CAR Company record as an Impairment Loss on this patent on 30 June 2018? Select one: O $3,500 0 $9,500 O $0 0 $10,375