Question 6: Al-Hamad Corporation used its own property as a head office in Abu Dhabi which had a carrying value of $35 million on 1 April 20X6 with a useful life of 25 years. The corporation shifted head office to a new premise on 1 August 20X6 and leased the old one. The previous head was valued at $41 million on 1 August 20X6 and $42.3 million on 31 December 20X6. Explain the accounting treatment of the property as per its relevant standards reasoning in the financial statements of Al-Hamad Corporation for the year-ended 31 December 20X6. [5 marks]