Asper Inc. prepares its financial statements according to International Financial Reporting Standards. At the end of its 2016 fiscal year, the company chooses to revalue its equipment. The equipment cost $810,000, had accumulated depreciation of $360,000 at the end of the year after recording annual depreciation, and had a fair value of $495,000. After the revaluation, the equipment account will have a balance of:
$495K/($810K - $360K) = 1.1

$810K x 1.1 = $891K T/F