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How much is the revaluation surplus net of tax

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Reference no: EM132532220

Question - Entity A has identified indications that its plant is impaired. The plant has a carrying amount of ?56,000,000. An independent valuer determined the following:

Replacement cost of the plant ?90,000,000

Actual life 15 years

Effective life 25 years

Remaining economic life 20 years

Entity A's tax rate is 30%.

Required - How much is the revaluation surplus, net of tax?

Reference no: EM132532220

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