Entity A has identified indications that its plant is impaired. The plant has a carrying amount of
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Question:
Entity A has identified indications that its plant is impaired. The plant has a carrying amount of 56,000,000. An independent valuer determined the following:
Replacement cost of the plant90,000,000
Actual life15 years
Effective life25 years
Remaining economic life20 years
Entity A's tax rate is 30%.
How much is the revaluation surplus, net of tax?
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