Answer (C) is correct.
Under the revaluation model, if the fair value of an item of property,
plant, and equipment can be reliably measured, it must be carried subsequent to initial recognition at a revalued amount. This amount is
fair value at the date of the revaluation minus any subsequent
accumulated depreciation and impairment losses. The revaluation model
is permitted by IFRS, not U.S. GAAP.