Zizi Limited prepares financial statements in compliance with US GAAP. At year end, the company had $12,500 worth of equipment that was retired and reclassified as held for sale. The equipment can reliably fetch $9,000, and the cost to sell it is estimated at $300. Alternatively, it can be refurbished and put back to use for $6,000. What is the fair value for the equipment held for sale? SELECT ONLY ONE a. $8,700 b. $12,200
c. $12,500
d. $15,000