Information about the investment property and machinery for Jeffery Inc. is provided below. Using the tables below, determine the balance sheet presentation under the cost and fair value model for each year Ignore the impact of income taxes and assume that a full year depreciation is taken each year using the straight- line method. Jeffrey Inc applies IFRS. Hint: The fair value model only applies to investment properties. Fair value at the end Fair value at the end of Year 1 of Year 2 12 million 14 million Purchase Price Land 10 million Building - 20 year useful life 40 million Machinery -5 year useful life 5 million 45 million 40 million 8 million 3.5 million Cost Model Dec 31 Year 1 Dec 31 Year 2 Carrying value (net book value) - Land Carrying value (net book value) -Building Carrying value (net book value) Machinery Total Depreciation Net effect on equity for the year Tiina Mart Ne eliect on equity for the year Fail Value Model: Dec 31, Year 1 Dec 31, Year 2 Carrying value (net book value) - Land Carrying value (net book value) - Building Carrying value (net book value) - Machinery Total Depreciation Net effe on equity for year