Assume that Levier Corporation elected the fair value option for reporting bonds and the bonds decreased in fair value during the year. Which of the following statements is correct?

Multiple Choice

The entire gain is reported as part of other comprehensive income $($OCI$).$

The entire gain is reported as part of net income.

The portion of that that gain that is a result of a change in general interest rates is reported as part of net income, while any portion of that gain that is a result of a change in the $$credit risk$$ of the debt is reported as other comprehensive income $($OCI$).$

The portion of that that gain that is a result of a change in general interest rates is reported as part of as other comprehensive income $($OCI$),$ while any portion of that gain that is a result of a change in the $$credit risk$$ of the debt is reported as part of net income.