York Corp., a Canadian public corporation, owns equipment for which the following year-end information is available: Which of the following best describes the proper accounting treatment for York's equipment? a. It is not impaired, but a loss must be recognized. b. It is not impaired and a loss should not be recognized. c. It is impaired and a loss must be recognized, with no reversal possible. d. It is impaired and a loss must be recognized, but the loss may be reversed in future periods