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What is the carrying value of crown company investment

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Question - Crown company holds an investment of 30% in the ordinary shares of royal company, an associate that has a net assets of 4,000,000 for the year ended december 31, 2014 which includes the current year net profit of 490, 000. The associate has issued 100, 000 9% cumulative preference shares with a nominal value of 10. The preference shares are classified by the associate as equity instruments. The associate has not declared dividends on the cumulative preference shares since 2013. What is the carrying value of crown company investment in associate as of December 31, 2014?

Reference no: EM133148210

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