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Problem 29-9 (PHILCPA Adapted) On January 1, 2020, Contentious Company provided the following information related to the land and building: 50,000,000 Land 450,000,000 Building Accumulated depreciation - building 75,000,000 There were no additions or disposals during the current year Depreciation is computed using straight line over 15 years for building. On June 30, 2020 the land and building were revalued. Replacement cost Sound value Land 65,000,000 65,000,000 Building 600,000,000 480,000,000 1. What is the revaluation surplus on June 30, 2020? a. 135,000,000 b. 125,000,000 c. 120,000,000 d. 160,000,006 2. What is the depreciation of the building for 2020? a. 30,000,000 b. 35,000,000 C. 40,000,000 d. 32,000,000 3. What is the revaluation surplus on December 31, 2020? a. 125,000,000 b. 130,000,000 c. 123,750,000 d. 115,000,000