MacIntosh Inc.has decided to record their property plant and equipment at fair value.Prior to making the adjustment, the capital asset account had a debit balance of $3,200,000 and the related accumulated depreciation was $1,440,000.An independent appraisal has determined a fair value of $6.3 million.Using the proportional method, what would be the gross carrying amount of the assets immediately after the adjustment to fair value?

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The gross carrying amount immediately after the adjustment to fair value can be calculated by dividing the fair value by the proportion of the asset's remaining life (fair value / (original cost - accumulated depreciation)). Given the original cost of $3,200,000 and accumulated depreciation of $1,440,000, the book value before revaluation is $1,760,000. The fair value is $6,300,000. The proportional method involves adjusting the gross carrying amount in proportion to the increase in fair value. The increase in fair value is $6,300,000 / $1,760,000 = 3.579545 times the book value. Therefore, the adjusted gross carrying amount is $3,200,000 * 3.579545 = $11,454,545.