Crane Inc. owns assets to which it applies the revaluation model (asset-adjustment method). The following additional information is available: 1. The depreciation expense for 2024 was $7440. 2. Between December 31,2023 , and December 31,2024 , the property's fair value had increased by $37200. 3. The December 31,2024 , balance in the revaluation surplus account (prior to any fair value adjustments) was $2480. Prior to any fair value adjustments at December 31,2023 , the net book value was $121520 and the fair value was $124000. Assume the same facts as indicated above, except that, between December 31, 2023, and December 31, 2024, the property's fair value had decreased by $12400. As a result, Crane's 2024 income statement will include a $12400loss.$9920gain.$2480loss.$9920loss