what is the answer?

- dost of not. 3000, no 17. In 2019 SME Company incurred (and paid) the following expenditures in acquiring property consisting of ten. identical freehold detached houses each with separate legal title including the land on which it is built. Date Amount Details Jan 1, 2019 P200,000,000 Purchase price. 20% of the price is attributable to the land Jan 1, 2019 20,000,000 Refundable transfer taxes Jan 1, 2019 1,000,000 | Legal costs directly attributable to the acquisition Jan 1, 2019 10,000 Reimbursing the previous owner for prepaying the non-refundable local government property taxes for the six-month period ending June 30, 2019 Jan 1, 2019 500,000 Advertising campaign to attract tenants Jan 2, 2019 200,000 Opening function to celebrate business that attracted extensive coverage by the local press. June 30, 2019 20,000 Non-refundable annual local government property taxes for the year ending June 30, 2020 SME Company uses one of the ten units to accommodate its administration and maintenance staff. The other nine units are rented to independent third parties under non-cancellable operating leases. Before occupying the premises tenants pay SME Company refundable deposits equal to two months rentals. Deposits held by SME Company as of December 31, 2019 totaled P270,000. Rentals received in the year ended December 31, 2019 totaled P1,550,000 of which P50,000 relates to January 2020, On December 31, 2019 SME Company made the following assessments about the units: useful life of the buildings: 50 years from the date of acquisition * The entity will consume the buildings' future economic benefits evenly over 50 years from date of acquisition + The fair value of the units can be determined reliably without undue cost or effort on an ongoing basis and that the residual value of the owner- occupied unit is nil. * The fair values of each unit was reliably estimated at P25,000,000 as of December 31, 2019 What amount of gain or loss should the company recognize as a result of the change in the fair value of the investment property on December 31, 2019? Page 4 of 13 - dost of not. 3000, no 17. In 2019 SME Company incurred (and paid) the following expenditures in acquiring property consisting of ten. identical freehold detached houses each with separate legal title including the land on which it is built. Date Amount Details Jan 1, 2019 P200,000,000 Purchase price. 20% of the price is attributable to the land Jan 1, 2019 20,000,000 Refundable transfer taxes Jan 1, 2019 1,000,000 | Legal costs directly attributable to the acquisition Jan 1, 2019 10,000 Reimbursing the previous owner for prepaying the non-refundable local government property taxes for the six-month period ending June 30, 2019 Jan 1, 2019 500,000 Advertising campaign to attract tenants Jan 2, 2019 200,000 Opening function to celebrate business that attracted extensive coverage by the local press. June 30, 2019 20,000 Non-refundable annual local government property taxes for the year ending June 30, 2020 SME Company uses one of the ten units to accommodate its administration and maintenance staff. The other nine units are rented to independent third parties under non-cancellable operating leases. Before occupying the premises tenants pay SME Company refundable deposits equal to two months rentals. Deposits held by SME Company as of December 31, 2019 totaled P270,000. Rentals received in the year ended December 31, 2019 totaled P1,550,000 of which P50,000 relates to January 2020, On December 31, 2019 SME Company made the following assessments about the units: useful life of the buildings: 50 years from the date of acquisition * The entity will consume the buildings' future economic benefits evenly over 50 years from date of acquisition + The fair value of the units can be determined reliably without undue cost or effort on an ongoing basis and that the residual value of the owner- occupied unit is nil. * The fair values of each unit was reliably estimated at P25,000,000 as of December 31, 2019 What amount of gain or loss should the company recognize as a result of the change in the fair value of the investment property on December 31, 2019? Page 4 of 13