Effective February 1, 2020, Fairy Garden Inc. (FGI) classified the land and building of a closed retail location as held for sale, as all of the criteria for classification were met. On January 1, 2020, the land and building had a cost of $800,000 and $550,000, respectively. The building had been depreciated on a straight-line basis over 25 years, and had an accumulated depreciation of $176,000 at December 31, 2019, with no residual value. The land and building have a fair value less costs to sell of $1,100,000 and 775,000, respectively.

Assuming FGI reports under IFRS, what amount should FGI show on its statement of financial position at December 31, 2020, for the land and building?

A	Assets held for sale $1,152,000
B	Assets held for sale $1,172,167
C	Assets held for sale $1,174,000
D	Assets held for sale $1,875,000