Excelsior Corporation owns 100 percent of Admiralty, Inc.'s 60,000 shares of common stock. On August 31, Excelsior sells 26,400 shares on the open market for $80,520. At that time, the carrying value of the investment in Admiralty, under the equity method, was $123,000. How should Excelsior record the difference between the proceeds received from the sale over its carrying value of the investment? a. Recognize a revaluation gain on its remaining investment for $33,600 b. Recognize a gain on its investment of $60,000. c. Recognize a gain on the sale for $26,400. d. Recognize an increase in additional paid-in-capital for $26,400