At 1 April 20x6 Ling owned a herd of cattle with a carrying amount of 45,000. At 31 March 20x7 the fair value of the herd had risen to 60,000. Ling pays commission of 5% on any cattle sales. What gain will be taken to Ling's statement of profit or loss for the year ended 31 March 20X7? Select one: a. 10,500 0 b. 12,000 0 c. 11,000 d. 11,550