Entity 4 has the following accounting issues arising in 2022.
(i) Entity 4 purchased a building on 1 January 2022 for 20m with the intention to use it as staff accommodation. It has a useful economic life of 50 years. The building has never been occupied by employees due to its location being too far away from the office. On 1 July 2022, the board of directors have approved to convert the building as an investment property and let it out commercially. The fair values of the building on 1 July and 31 December 2022 were 20.5m and 20.1m respectively.
(ii) Entity 4 has a cash generating unit (CGU) with the following assets and liabilities at 31 December 2022:
	m
Goodwill	25
PPE	280
Intangibles	50
Inventory	45
Receivables	30
Payables	40
Required
(a) Show clearly how the building in (i) should be accounted for in 2022 if Entity 4 applies
- the cost model
- the fair value model
	(7 marks)
(b) Suppose the recoverable amount of the CGU in (ii) was 300m. Determine the revised carrying amount for the PPE as on 31 December 2022.