In 2001, X company recognized an impairment loss on the trade name for its beverage product reducing the carrying value from $485000 to $350,000. At December 31, 2003, while preparing its financial statement, X company has determined that the fair value of the trade name has risen and its now worth $500,000. What amount will be reported for the trade name on X company's December 31, 2003 balance sheet?