On January 1, 2017, Super Giant Company purchased equipment with cost of P12,000,000, useful life of five years and no residual value. The company used 150% declining balance method of depreciation. On December 31, 2017 and 2018, the company determined that impairment indicators are present. There is no change in useful life or residual value. December 31, 2018 December 31, 2017 Fair value less cost of disposal 4,900,000 7,200,000 Value in use 4,775,000 7,500,000 14. What is the impairment loss for 2017? A. 900,000 B. 1,200,000 C. 2,750,000 D. 2,850,000 15. What is the gain on reversal of impairment for 2018? A. 0 B. 212,500 C. 900,000 D. 1,192,500 16. What is the depreciation for 2018 and 2019, respectively? A. 2,812,500; 2,450,000 B. 2,450,000; 2,812,500 C. 2,700,000; 2,387,500 D. 2,387,500; 2,700,000