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What will larue corp report as investment property

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LaRue Corp. is a Canadian corporation that uses IFRS. LaRue Corp. has the following account balances as of December 31, Year 5:

Land Used in manufacturing operations $11,000,000

Land held for rental income $4,000,000
Buildings used in manufacturing operations $10,500,000
Buildings held for capital appreciation $3,000,000
Machinery and equipment used in production $1,000,000

Problem 1: Under IFRS, what will LaRue Corp. report as investment property on its December 31, Year 5, balance sheet?

A.$4,000,000
B.$28,500,000
C.$7,000,000
D.$18,000,000

Reference no: EM132726795

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