To solve this problem it is necessary to take into account the concepts related to the magnetic moment and the torque applied over magnetic moments.
For the case of the magnetic moment of a loop we have to,

Where
I = Current
A = Area of the loop
Moreover the torque exerted by the magnetic field is defined as,

Where,
I = Current
A = Area of the loop
B = Magnetic Field
PART A) First we need to find the perimeter, then




The total Area of the loop would be given as,



Substituting at the equation of magnetic moment we have


Therefore the magnetic moment of the loop is 
PART B) Replacing our values at the equation of torque we have that



Therefore the torque exerted by the magnetic field is 
Answer:
The friend is wrong: the law of conservation of momentum is not violated
Explanation:
The law of conservation of momentum states that:
"For a system of an object, if the net external force acting on the system is zero, then the total momentum of the system is conserved"
In our problem, the system is the ball rolling down the hill. The ball gains speed as it rolls down, so its momentum increases, according to the equation:

where m is the mass of the ball and v its velocity. This may appear as a violation of the law, however it is not. In fact, the net external force acting on the ball is not zero, since there is the force of gravity acting on the ball. As a result, the force of gravity gives an acceleration to the ball, increasing its momentum: therefore, the law is not violated.
A coil of wire with a current flowing thru it becomes a magnet