Smithson Co purchased a new building with a 50-year life for $10 million on 1 January 20X3. On 30 June 20X5, Smithson Co moved out of the building and rented it out to third parties on a short-term lease. Smithson Co uses the fair value model for investment properties. At 30 June 20X5 the fair value of the property was $11 million and at 31 December 20X5 it was $11.5 million. What is the total net amount to be recorded in the statement of profit or loss in respect of the office for the year ended 31 December 20X5?