MHJ purchased an asset for £53,500, which incurred a delivery charge of £20,000.

MHJ purchased an asset for £53,500, which incurred a delivery charge of £20,000. MHJ decided to set a depreciation rate of 15% per annum for the asset.

In its second year, the asset is re-valued at 180% of the net carrying value of the previous year.

What will be the asset's net carrying amount by the end of its second year?