What total amount should be considered as owner-occupied property and included in property, plant and equipment in the consolidated statement of financial position?
MMM Company and its subsidiaries own the following properties at year end: Land held by MMM for undetermined use = 5,000,000; A vacant building owned by MMM and to be leased out under an operating lease = 3,000,000; Property held by a subsidiary of MMM, a real estate firm in the ordinary course of business = 2,000,000; Property held by MMM for use in production = 4,000,000; Building owned by a subsidiary of MMM and for which the subsidiary provides security and maintenance services to the lessees = 1,500,000; Land leased by MMM to a subsidiary under an operating lease = 2,500,000; Property under construction for use as investment property = 6,000,000; Land held for future factory site = 3,500,000; Machinery leased out by MMM to an unrelated party under an operating lease = 1,000,000. What total amount should be considered as owner-occupied property and included in property, plant and equipment in the consolidated
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