One of the directors from the board of directors of Rio Tinto QLD has suggested that the company adopt the revaluation model for the measurement of their machinery. Some of this machinery is difficult to replace because of its unique nature and certain items of machinery have increased in value in the current period. The director from the board of directors is arguing that, as there has been no decline in the machinerys fair value, no depreciation expense should be recognized on these items of machinery. Therefore explain whether the director's proposal (about not recognizing depreciation) should be adopted by the company/board.