You received no credit for this question in the previous attempt Collison and Ryder Company IC&R) has been experiencing declining market conditions for its sportswear division Management decided to test the assetsoon for possible impairment. The test revealed the following: book value of division's assets, $29.9 million, fair value of div on sets, $22.7 million undiscounted sum of estimated future cash flows generated from the division's assets, $30.4 million What amount of impairment loss hold C&R recognize? (Enter your answer in whole dollars.) Impairment loss $7,200,000