At December 31, 2020. the end of its first year of operations, Kingbird SA chose to use the revaluation framework allowed under IFRS. Kingbird's ledger shows Equipment 800,000 and Accumulated Depreciation-Equipment 160,000, Independent appraisers determine that the plant assets have a fair value of 701,000. Record the revaluation. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit (To record depreciation expense) e Textbook and Media List of Accounts Using your answer from part (a), what would be the amount of Kingbird's 2021 depreciation? Assume no change in the value of Kingbird's equipment in 2021. a 4 year remaining life, and no residual value. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit (To record depreciation expense) e Textbook and Media List of Accounts Independent appraisers determine that the plant assets have a fair value of 559.000. Record the revaluation. (Ignore your answers to parts (a) and (b).) (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit