Tycoon Corporation acquired a building on January 1, 2012 at a cost of P50,000,000.The building has an estimated life of 10 years and residual value of P5,000,000. The building was revalued on January 1, 2016 and the revaluation revealed replacement cost P80,000,000, residual value of P2,000,000 and revised total life of 12 years.

1. The carrying amount of building as of December 31, 2016 is

2. The revaluation surplus as December 31, 2016 is