On 1 October 20X8 PM acquired 30 million of VA's 100 million shares in exchange for 75 million of its own shares. The fair value of PM's shares at the date of this share exchange was $1.60 each. VA's profit is subject to seasonal variation. Its profit for the year ended 31 March 20X9 was $100 million. $20 million of this profit was made from 1 April 20X8 to 30 September 20X8. PM has one subsidiary and no other investments apart from VA. 

What amount will be shown as 'Investment in associate In the consolidated statement of financial position of PM as at 31 March 20X9? 

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