Luna Inc, has adopted the cost modnl for its land and buildings, furniture and fixtures, motor vehicles, and office equipment classes of PPBE, In 20X2, Luna tric acquires another plot of land for $20 malion. Luna inc. would like to apply the revaluation model to this plot of land. Can Luna inc. apply the revaluation model for this plot of land? Select the best response, and then cilck submit. No, Luna inc. would be required to apply the revaluation model to the entire class of PpsE-in this case land, not just one plot of fand: No, Luna inc. is required to apply the revaluation model to all items of PP\&E. Yes, if turia inc. ean obrain the reliably measured fair value of this plot of land. Yes, Luna Inc, can make an accounting policy choice whether to apply the coss model or the revaluation modelto a particular item of PPBE