Rice Industries owns a manufacturing plant in a foreign country. Political unrest in the country indicates that Rice should investigate for possible impairment. Below is information related to the plant's assets ($ in millions): Book value Undiscounted sum of future estimated cash flows Present value of future cash flows Fair value less cost to sell (determined by appraisal) $196 213 178 180 The amount of impairment loss that Rice should recognize according to U.S. GAAP and IFRS, respectively, is: U.S. GAAP IFRS a. $ 16 million $16 million b. $18 million $18 million C. $ 0 $ 16 million d. There is no impairment under both U.S. GAAP and IFRS. Multiple Choice Option A. O O Option B. Option C O Option D. O