Otter Ltd Has an Item of Plant with a Cost

Multiple Choice

Otter Ltd has an item of plant with a cost of $4,200,000, and at 30 June 20X4 the accumulated depreciation was $600,000 and its estimated residual amount $200,000; its accumulated impairment was $150,000 at the beginning of the reporting period.
-Otter Ltd has adopted the cost model for the class of assets.At reporting date, the directors determined that the asset's value in use was $3 200,000, its fair value was $3,300,000 and the estimated costs to sell it $150,000.At what amount will it be reported in the balance sheet?

A) $3,350,000
B) $3,150,000
C) $3,500,000
D) $3,200,000