Dower Corporation prepares its financial statements according to IFRS. On March 31, 2024, the company purchased equipment for $240,000. The equipment is expected to have a six-year useful life with no residual value. Dower uses the straight-line depreciation method for all equipment. On December 31,2024, the end of the company's fiscal year, Dower chooses to revalue the equipment to its fair value of $220,000. Exercise 11-9 (Static) Part 2 4a. Assume no revaluation surplus exists before this entry. Calculate the revaluation of the equipment assuming that the fair value of he equipment at the end of 2024 is $195,000. 4b. Assume that the fair value of the equipment at the end of 2024 is $195,000. Prepare the journal entry to record the revaluation o he equipment. Complete this question by entering your answers in the tabs below. Assume that the fair value of the equipment at the end of 2024 is $195,000. Prepare the journal entry to record the revaluation of the equipment. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round your intermediate calculations. Round your final answers to nearest whole number