Donald Ltd. holds an office building as an investment property. Donald has a December 31 year end and initially recognized the property at its acquisition cost of $21.6 million on January 1, 2015. The acquisition cost consisted of the purchase price of $20 million, costs to survey and transfer the property of $500,000, and legal fees for the acquisition of the property of $600,000. Donald determines that approximately 25% of the office building's value is attributable to the land, with the remainder attributable to the building. The following fair values are determined: Date Fair Value December 31, 2015 $21,000,000 December 31, 2016 $22,000,000 Donald expects the office building to have a 40-year useful life and a residual value of $2.2 million. Donald uses the straight-line method for depreciation. Required: a) Assume that Donald decides to apply the cost model. What journal entries, if any, are required at December 31, 2015 and December 31, 2016? (2 marks) b) Assume that Donald decides to apply the fair value model and records both the shopping centre's land and buildings in an account entitled Investment Property - Shopping Centre. Prepare the journal entries, if any, required at December 31, 2015 and December 31, 2016