On January 1, 2011, Hendon Co bought a tile-cutter machine for $20,000. It has an expected useful life of ten years and a nil residual value. On 30 September 2013, Hendon Co decides to sell the machine, and starts action to locate a buyer. The machines are in short supply, so Hendon Co is confident that the machine will be sold quickly. Its market value at 30 September 2013 is $13,500 and it will cost $500 to transport the machine to the purchaser. The machine has not been sold at the year end. At what value should the machine be stated in Hendon Company's Statement of Financial Position at 31 December 2013? Show all workings (10 marks)