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How much is presented as investment property

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Question - In 20x3, started the construction of a mall which is to be leased out under various operating leases. The construction was completed at the end of 20x4 at a total cost of 29,370,874. NKCI's operations started at the beginning of 20x5. NKCI uses the cost model at the straight line method of depreciation. On December 31, 20x6, the mall was estimated to have a fair value of 28,000,000. The mall has a total leasable space of 1,141 sq. meters.

However, a 5 sq. meter space is used as office for administering the mall. How much is presented as investment property in NKCI's December 31, 20x6 financial statements?

Reference no: EM133010663

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