On 1 April 20x2 Reme limited raised $8m for 1 year all for the building of new production equipment. The loan carries 8% interest rate payable at the end of a loan term. The project commenced on 1 may 20x2 but no construction took place between 1 June 20x2 to 31 July 20x2 due to employee strike. The equipment was ready for use on 31 March 20x3 with a construction cost of $8m. What is the carrying amount of the equipment in Statement of Financial position as at 31 March 20x3?