useful life was 20 years. On 31 December 20X3 the property was revalued to $1.7m and on 31 13. Spray Flowers Co purchased a property on 1 January 20X1 for $1.5m, when its estimated December 20X6 the property was sold for $1.5m. What amounts should be recognised in the statement of profit or loss in 20X6 in relation to the property? A Depreciation of $100,000 and profit on disposal of $450,000 B Depreciation of $85,000 and profit on disposal of $55,000 C Depreciation of $75,000 and profit on disposal of $450,000 D Depreciation of $100,000 and profit on disposal of $100,000