Hole in the rules: it's unclear whether IW trumps first touching or vice versa.
The case for going with the IW: the IW clearly happens during a loose ball, since the touching does not constitute possession. By rule, replay the down.
The case for going with first touching: 2-16-6 says:
"Game situations which produce results somewhat similar to penalties,
but which are not classified as fouls are: disqualification of a player, first
touching of a kick by K and forfeiture of a game."
So we treat first touching like an accepted penalty, specifically by disregarding the IW, and go with first touching.
Pick 'em.
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