Sparks Production and Distribution Limited (SPDL) bought a 20 acres property for $10 million on January 1, 2021 for its investment potential. The land element is $4M and is expected to have a useful life of 50 years. The Latin America and Caribbean Property Indices suggest that the fair value of the property as at December 31, 2021 was $11 million. A. B. Show how the property would be presented in the financial statements as at December 31, 2021 if Sparks Production and Distribution Limited adopt: i. The Cost Model as per IAS 40 ii. The Fair Value Model as per IAS 40. (6 marks) (6 marks) Amalgamated Boilers Limited (ABL) began to construct a shopping mall in Guyana on January 1, 2020 which had an estimated useful life of 40 years. ABL purchased the 10 acres site for $250 million. Building construction costs $90 million and the fixtures and fittings cost $60 million. The mall construction was completed on September 30, 2020 and it was brought into use on January 1, 2021. ABL borrowed $400 million on January 1, 2020 in order to finance this project. The loan carried interest at 10% per annum. It was repaid on June 30, 2021. Required: Calculate the total amount to be included at cost in property, plant, and equipment in respect of (8 marks) the shopping mall's development on December 31, 2020 as per IAS 23.