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High-tech Ltd received a grant of $6m to purchase a machine with a cost of $15m. The asset will be depreciated over 5 years. The

High-tech Ltd received a grant of $6m to purchase a machine with a cost of $15m. The asset will be depreciated over 5 years. The company has decided to treat the grant using the deferred income method.

How the above grants should be treated in the financial statements in accordance with IAS 20?

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