Base Ltd., an American company, acquired US$200,000 of capital assets on January 1, 2018 when the company was established. These assets were being amortized over 10 years on a straight-line basis, with no significant residual value expected.

On January 1, 2022, Ace Inc., a Canadian company with no capital assets of its own, acquired100% of the outstanding shares of Base. US$40,000 of the acquisition differential was allocated to the capital assets, which had eight years remaining economic life on the acquisition date.

On March 1, 2023, Base acquired a further $80,000 of capital assets, which had an estimated useful life of eight years from that date.

Exchange rates for the period from January 1, 2018 to December 31, 2023 were:

January 1, 2018 US$1.00 = CDN$1.056

January 1, 2022 US$1.00 = CDN$1.2684

Average for 2022 US$1.00 = CDN$1.2109

December 31, 2022 US$1.00 = CDN$1.2267

March 1, 2023 US$1.00 = CDN$1.2464

Average for 2023 US$1.00 = CDN$1.2096

December 31, 2023 US$1.00 = CDN$1.2335

If Base's functional currency is the same as the parent's, what amount will be shown for capital assets (net) on its translated Canadian dollar financial statements as at December 31, 2023? (3 marks)