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) A business is in the process of revaluing its assets. A building that was purchased at a cost of $500 000 which has an

) A business is in the process of revaluing its assets. A building that was purchased at a cost of $500 000 which has an accumulated depreciation amount of $150 000 is assessed to have a fair value of $380 000. i. Is there a revaluation gain or a revaluation loss in the above scenario? ii. What is the amount of the revaluation gain or a revaluation loss

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