A company follows IFRS and chooses to report certain intangible assets at fair value. On January 1, 2019, it acquires software for 500,000. Estimated life is 5 years, straight-line. On December 31, 2019, the intangible has a fair value of 440,000. On December 31, 2020, its fair value is 390,000. How is this information reported on the 2020 financial statements?

Select one:

A. Amortization expense 130,000; other comprehensive loss 50,000

B. Amortization expense 88,000; other comprehensive gain 38,000

C. Amortization expense 100,000; other comprehensive gain 80,000

D. Amortization expense 110,000; other comprehensive gain 60,000