Question Description Assume there are three separate real estate companies: US Realty (which applies the cost model), UK Realty (which applies the revaluation model), and International Realty (which applies the fair value model). Assume also that on December 2003, each company pays $1,000 cash to obtain investment property comprising land with negligible value and an office building worth $1,000. The building Post has a 10-year useful life, has no residual value, and is expected to provide a constant stream of economic benefits over time. Estimate the profit on ordinary activities of Land Securities Group under the fair value model for the years 1990 to 2003. When will the profit under the fair value model equal that of the cost model? e