Wallace Inc Wishes to Use the Revaluation Model for This

Multiple Choice

Wallace Inc wishes to use the revaluation model for this property: $$\begin{array} { | l | r | } \hline & \text { Before Revaluation } \\\hline \text { Building Gross Value } & 120,000 \\\hline \text { Building Other comprehensive income } & 40,000 \\\hline \text { Net carrying value } & 80,000 \\\hline\end{array}$$ The fair value for the property is $60,000. Assuming this is the first year of using the revaluation model, what amount would be booked to the "other comprehensive income" account if Wallace chooses to use the proportional method to record the revaluation?

A) $0
B) $10,000 debit.
C) $10,000 credit.
D) $20,000 debit.