Torque on a rectangular loop with attached mass

[Pepsi24chevy]

Hey guys, here is a problem i have with the work i have done so far. I am not sure how to factor in the torque due to the mass. I also want to make sure i am doing this correctly. THanks
problem

 

[mukundpa]

The magnitude of the force on each wire is F1 = I*B*L down (theeta is 90) and
F2 = mg - I*B*L down
A. Resulting torque = I*B*L*(w/2) - (mg - I*B*L)(w/2) = I*B*L*w - mg(w/2) = 0 (for balance)
B. Resulting torque = (I*A)*B - mg(w/2) = I*L*w*B - mg(w/2) = 0
gives the current I = mg/2BL