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Wilson Inc uses the revaluation model for its land. In the first year it recorded revaluation loss of $60,000. In year 2 the fair value increased 580,000 compared to year 1. What is to be recorded to revalue the land in year 2? o a. Credit revaluation loss $60,000 O b. Credit revaluation gain $60,000 C. Credit revaluation gain $80,000 d. Credit revaluation surplus $80,000