Blue Corp. bought a building for earning rental income only on Jan 1, 2021. The cost of the building is $1,000,000 and the useful life is 25 years. Blue Corp classified the building as investment property and apply fair value model. The fair value of the building is $1,200,000 as of Dec 31,2021 . Which of the following statement is correct? a. Blue Corp will need to first record depreciation expense of $40,000. b. Blue Corp will not be recording depreciation expense. c. Blue Corp will credit OCl - Revaluation gain of $200,000. d. The cost of the building would still be at $1,000,000