On 1 January 2011, an entity purchased an asset for 200,000. The asset had an estimated useful economic life of 10 years. At the beginning of the fourth year the entity revalued the asset to 175,000. The estimated useful economic life of the asset remained at a total of 10 years. The entity makes an annual transfer from the revaluation reserve to accumulated profits in respect of excess depreciation.

a) What is the depreciation charge in respect of the asset for the year ended 31 December 2015?

b) What is the balance on the revaluation surplus in respect of the asset at 31 December 2015?