Trinity Ltd owns a building which it acquired on 1 January 2007 for 120,000. The building has been depreciated in each of the 10 years since acquisition at 4% straight-line. At the start of 2017, the directors estimated that the building had a remaining useful life of 20 years and it is to be revalued to 150,000. Which of the following statements is correct: At 1 January 2017 the revaluation reserve should be