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What value should be included within intangible assets

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Question - During the year ending 31 Dec 20X0 a company incurred £150,000 of development costs in relation to a new product. A further £30,000 was spent on machinery specifically used in the development of the new product. The machinery is expected to last for 6 years with no residual value. A further £20,000 was spent on building the brand identity. The development project meets the criteria laid down in IAS 38 Intangible Assets. What value should be included within Intangible Assets in respect of the above in the company's Statement of Financial Position?

Reference no: EM132875668

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