Exercise 11-9 (Static) IFRS; revaluation of equipment; depreciation; partial periods [L011-10] [The following information applies to the questions displayed below.] 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 1 Required: 1. Calculate depreciation for 2024 . 2-a. Calculate the revaluation of the equipment. 2-b. Prepare the journal entry to record the revaluation of the equipment. 3. Calculate depreciation for 2025 . Answer is not complete. Complete this question by entering your answers in the tabs below. 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 intermediate calculations. Round your final answers to nearest whole dollar amount