Cullumber Inc. is a publicly traded company that uses straight-line depreciation and the revaluation method. Cullumber purchased a building on May 1, 2023 for $789000. The building is expected to have a 25-year useful life with no residual value. Cullumber applies the asset adjustment method to the building at the December 31, 2025 year end. The building's fair value is $704840. What is the revaluation surplus or loss? O $10000 surplus O $2500 loss O $0 O $84160 loss

Cullumber inc, is a publicly traded company that uses straight-line depreciation and the revaluation method. Cullumber purchased a building on May 1,2023 for $789000. The buliding is expected to have a 25 -year useful life with no residual value. Cultumber applies the asset adjustment method to the building at the December 31,2025 year end. The building's fair value is $704840. What is the revaluation surplus or loss? $10000surplus$2500loss$0$84160loss