The following information was taken from the fixed asset records of Bosco Ltd. as of December 31, 2010: Carrying value $100,000 Selling price $85,000 Cost of disposal $3,000 Expected future cash flows $75,000 Present value of expected future cash flows $63,000 Required: a. Using IAS 36, what is the amount of impairment loss? b. What is the amount of impairment loss under U.S. GAAP? Show work for partial credit.