2.A company has three intangible assets which it currently carries at cost. The details are as follows:

Patent

100,000

No active market

Quota

150,000

Fair value = 180,000

Operating licence

200,000

Fair value = 220,000

The directors wish to revalue all of the intangible assets to carry them at fair value. Although there is no active market for the patent, the directors believe that it could be sold for 140,000. At what value would the intangible assets be carried if the revaluation model were adopted and the assets carried at fair value?

A. 450,000

B. 490,000

C. 500,000

D. 540,000