i posted on chegg previously but the fair value for req 3 was wrong Part 1 of

i posted on chegg previously but the fair value for req 3 was wrong

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Part 1 of 2 2.22 points elook Print Neurences Required information [The following information applies to the questions displayed below] Dower Corporation prepares its financial statements according to IFRS. On March 31, 2024, the company purchased equipment for $336,000. The equipment is expected to have a six-year useful life with no residual value. Dower uses the straight-line depreciation method for all equipment. On December 31, 2024, the end of the company's fiscal year, Dower chooses to revalue the equipment to its fair value of $308,000. Required: 1. Calculate depreciation for 2024. 2-a. Calculate the revaluation of the equipment. 2-b. Prepare the journal entry to record the revaluation of the equipment. 3. Calculate depreciation for 2025 Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 28 Req 3 Calculate depreciation for 2025. Note: Round your denominator answer to 2 decimal places. Choose Numerator: Straight-Line Depreciation Annual Depreciation Choose Denominator: Expense Part 1 of 2 2.22 points elook Print Neurences Required information [The following information applies to the questions displayed below] Dower Corporation prepares its financial statements according to IFRS. On March 31, 2024, the company purchased equipment for $336,000. The equipment is expected to have a six-year useful life with no residual value. Dower uses the straight-line depreciation method for all equipment. On December 31, 2024, the end of the company's fiscal year, Dower chooses to revalue the equipment to its fair value of $308,000. Required: 1. Calculate depreciation for 2024. 2-a. Calculate the revaluation of the equipment. 2-b. Prepare the journal entry to record the revaluation of the equipment. 3. Calculate depreciation for 2025 Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 28 Req 3 Calculate depreciation for 2025. Note: Round your denominator answer to 2 decimal places. Choose Numerator: Straight-Line Depreciation Annual Depreciation Choose Denominator: Expense