On January 1, 2010, Easy Company acquired an equipment for P8,000,000. The equipment is depreciated using straight line method based on a useful life of 8 years with no residual value. On January 1, 2013, after 3 years, the equipment was revalued at a replacement cost of P 12,000,000 with no change in the useful life. The pretax accounting income before depreciation for 2013 is P10,000,000. The income tax rate is 30% and there are no other temporary differences at the beginning of the year.
 
 -What is the deferred tax liability on January 1,2013 arising from the revaluation? A. 0 C. 750,000 B. 450,000 D. 1,200,000  

 -What is the current tax expense for 2013? A. 2,700,000 C. 3,300,000 B. 3,000,000 D. 3,450,000  

 -What is the deferred tax liability on December 31,2013 arising from revaluation? A. 0 C. 600,000 B. 450,000 D. 750,000  

 -What is the total tax expense for 2013? A. 2,550,000 C. 3,000,000 B. 2,700,000 D. 3,750,000  

 -What is the revaluation surplus on December 31, 2013? A. 1,400,000 C. 2,000,000 B. 1,750,000 D. 2,500,000