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. Purchase Price 10 million Fair value at the end Fair value at the end of Year 1 of Year 2 12 million 14 million Land 45 million 40 million Building - 20 year useful life 40 million Machinery useful life 5 million 5 year 4.8 million 3.5 million