On January 1,2004, Cayman Corporation bought manufacturing equipment for $ 30 million. On December 31, 2006, Cayman determined the equipment was impaired and recognized a $5 million impairment loss in its income statement. As of December 31, 2007, the fair value of the equipment exceeded the book value by $ 7 million. What amount of the recovery in value can Cayman recognize in its 2007 income statement under U. S Generally Accepted Accounting Principles (U. S. GAAP) and under International Financial Reporting Standards (IFRS)U.S. GAAPIFRS（）①A. $ 0 $ 7 million ②B. $ 5 million $ 5 million ③C. $ 0 $ 5 million
A．①
B．②
C．③