ABC Company has equipment acquired on January 1, 2018, at a cost of P2,100,000 with 20 years estimated useful life. On December 31, 2022, the fair value of the equipment turns P1,843,750. In addition, the useful life has revised to 15 years and ABC estimates a residual value of P100,000. Round off percentage to 2-decimal places and the gross-up value to nearest peso if you are required to gross-up. The revaluation and revision of estimates have resulted in ABC reporting accumulated depreciation a year after revaluation at what amount?

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A:

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