A property was purchased on 1 January 20X0 for $2m (estimated depreciable amount was $1m and it had a useful life 50 years). Annual depreciation of $20,000 was charged from 20X0 to 20X4 inclusive and on 1 January 20X5 the carrying amount of the property was $1.9m. The property was revalued to $2.8m on 1 January 20X5 (estimated depreciable amount was $1.35m and the estimated useful life was unchanged). Show the treatment of the revaluation surplus and compute the revised annual depreciation charge.