On January 1, 2021, ABC Plc. purchased equipment with a cost of 300,000, a useful life of 10 years and no residual value. The company uses straight-line depreciation. At December 31, 2021, the company determines that impairment indicators are present. The fair value less cost to sell the asset is estimated to be 260,000. The asset's value-in- use is estimated to be 245,000. There is no change in the asset's useful life or residual value. The 2021 income statement will report Loss on Impairment of Select one: O a. No loss recognised O b. 40,000 O c. 10,000 Od. 25,000