Abuja Metro Rail Authority (AMRA) is a public entity that constructs and manages rail infrastructure in the Federal Capital Territory. The following transactions and events relate to AMRA's non-current assets for the financial year ended 30 June 2024: (i) On 1 July 2021, AMRA acquired a rail track system at a cost of N500,000,000. The asset was assigned a useful life of 25 years with no residual value and is depreciated on a straight-line basis. On 1 July 2023, following a technical review, management revised the remaining useful life of the rail track to 18 years (from 1 July 2023) and the residual value was revised to N20,000,000. (ii) AMRA owns a maintenance depot that was revalued for the first time on 30 June 2024. Details are as follows: - Original cost (1 July 2019): N90,000,000 - Useful life: 30 years; Residual value: Nil; Method: Straight-line - Fair value as determined by an independent valuer on 30 June 2024: N120,000,000 (iii) A signalling equipment item (cost N24,000,000, accumulated depreciation N16,000,000) was assessed on 30 June 2024. Its recoverable amount was determined to be N5,500,000. AMRA prepares its financial statements in accordance with IFRS (IAS 16, IAS 36 and IAS 38 as applicable). Required: (a) Calculate the depreciation charge on the rail track system for: (i) Each of the years ended 30 June 2022 and 30 June 2023 (before the revision). (3 marks) (ii) The year ended 30 June 2024 (after the revision). (4 marks) (b) Prepare the journal entries to record the revaluation of the maintenance depot on 30 June 2024, showing clearly the revaluation surplus. (8 marks) (c) Calculate the impairment loss on the signalling equipment and explain how it should be recognised in the financial statements of AMRA in accordance with IAS 36. (5 marks) Total: 20 marks