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Teacher, i need your help, i dont know how to do this question:
Banter Co purchased an office building on 1 January 20X1. The building cost was 1600000 and this was depreciated by straight line method at 2% per year, assuming a 50 years life and nil residual value. The building was re-valued to 2250000 on 1 January 20X6. The useful life was not revised. The company’ financial year ends on 31 December.
What is the balance on revaluation reserve at 31 December 20X6?
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