On January 1, 2018, Fredo Inc. purchased equipment with a cost of 2,550,000, a useful life of 15 years and no salvage value. The company uses straight line depreciation. At December 31, 2018, an independent appraiser determines that the fair value of the equipment is e2,500,000. Fredo prepares financial statements using IFRS and elects to revalue the asset. The 2019 (second year) income statement will report depreciation expense for the equipment of O a cannot be determined from the information given. b.178,571 Oc C166,667 O d. 170,000