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Cow Co is a company that farms dairy cattle. Cow Co owns the farmland on which the cattle are located, having purchased it for $1.5 million in 2011. The land is measured at cost under AASB 116/IAS 16. Details of cattle at 30 June 2013 were as follows: During the year ended 30 June 2014 the following occurred: 200 new cows were purchased at $810 each4 50 heifers matured into cows 5 heifers died 100 cows were sold for $830 each The price change between a heifer and a cow at the time of maturity during the year was estimated to be $500 The following is relevant at 30 June 2014: The land has been valued at $5.6 million Fair value less estimated costs to sell are as follows (Cow Co has determined that these are the appropriate fair values to use for the purposes of transfers and deaths of heifers): Cows - $860 /head Heifers - $340/head The increase in fair value of livestock attributable to price change is: a) $77 000 b) $76 000 c) $25 000 d) $6 000