JCD, a company with subsidiaries, operates in J-land. JCD acquired 40% of the ordinary share capital of KDE many years ago for J$40 million in cash. At the date of acquisition, KDE had 60 million J$1 ordinary shares in issue and retained earnings were 20 million. JCD has significant influence over KDE. KDE had no other reserves. At 31 December 20X4 KDE's retained earnings were J$30 million. JCD's investment in KDE had suffered an impairment loss of J$5 million. What is the carrying amount of JCD's investment in KDE in the consolidated statement of financial position as at 31 December 20X4? Solution A.J$39 million B.J$40 million C.J$42 million D.J$44 million