A Company Acquired a New Piece of Equipment on January

A company acquired a new piece of equipment on January 1, 2009 at a cost of $200,000. The equipment is expected to have a useful life of 10 years, a residual value of $20,000 and is depreciated on a straight-line basis. On January 1, 2011, the equipment was appraised and determined to have a fair value of $190,000 and a residual value of $25,000 and a remaining useful life of 10 years.
-At what amount should the equipment be reported on the December 31, 2011 balance sheet under the IFRS cost model?

A) $160,000
B) $150,000
C) $146,000
D) $140,000
E) $116,000 Under the IFRS cost model the equipment would be reported at depreciated historical cost. (200,000-20,000) /10 years or $18,000 per year. After 3 years the book value is (200,000-54,000) or $146,000.