A building suffered uninsured fire damage. The damaged portion of the building was refurbished with higher quality materials. The cost and related accumulated depreciation of the damaged portion are identifiable. To account for these events, the owner should:\ \ A. \ Reduce accumulated depreciation equal to the cost of refurbishing.\ \ B. \ Record a loss in the current period equal to the sum of the cost of refurbishing and the carrying amount of the damaged portion of the building.\ \ C. \ Capitalize the cost of refurbishing and record a loss in the current period equal to the carrying amount of the damaged portion of the building.\ \ D. \ Capitalize the cost of refurbishing by adding the cost to the carrying amount of the building.