On 1 January 2012 Amco acquired a building for $1,000,000. At 31 December 2012 managementmade the following assessments about the building as at that date:its useful life is 40 years from the date of acquisition;its residual value is expected to be $200,000;its fair value is $1,300,000.What is the carrying amount of the building at 31 December 2012 under the cost model?
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