On 1 July 2014, Capers Ltd purchased equipment with cash for a total cost of $220,000 including 10% GST. The estimated useful lite of the equipment was 10 years, with an estimated residual value of $15,000. The entity's reporting period ends on 30 June, and it uses straight-linedepreciation. On 1 July 2016 , the entity revalued the equipment upwards by $17,000 to reflect the fair value, The revised useful life was 8 years and residual value was estimated at $10,000. On 1 January 2018 , Capers Ltd revalued the equipment downwards by $20,000 to reflect the fair value. Calculate the new carrying value of the equipment immediately after the revaluation downwards. New carrying value