An asset was acquired on January 1, to 2020 for P800,000 and is expected to have a 5-year useful life. The straight-line method was used. On January 1, 2022, the asset was deemed to have a sound value...

An asset was acquired on January 1, to 2020 for P800,000 and is expected to have a 5-year useful life. The straight-line method was used. On January 1, 2022, the asset was deemed to have a sound value of P720,000. How much is the revaluation surplus for the period ended December 31, 202