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):

Fair value of Reliant (approximates fair value less costs to sell) $655

Fair value of Reliant's net assets (excluding goodwill) 600

Book value of Reliant's net assets (including goodwill) 700

Present value of estimated future cash flows 670

The amount of impairment loss that Rice should recognize according to U.S. GAAP and IFRS, respectively is:

I know its 0 and $30 million respectively, but why. Show work.