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Dower Corporation prepares its financial statements according to IFRS. On March $31,2024,$ the company purchased

equipment for $$432,000.$ The equipment is expected to have a six$-$year useful life with no residual value. Dower uses the

straight$-$line depreciation method for all equipment. On December $31,2024,$ the end of the company's fiscal year. Dower

chooses to revalue the equipment to its fair value of $$396,000.$

Required:

Calculate depreciation for $2024.$

$2-$a$.$ Calculate the revaluation of the equipment.

$2-$b$.$ Prepare the journal entry to record the revaluation of the equipment.

Calculate depreciation for $2025.$

Complete this question by entering your answers in the tabs below.

Req $1$

Req$2A$

Req$2B$

Req $3$

Calculate depreciation for $2024.$