1. A company, which prepares its financial statements according to IFRS, owns several investment properties on which it earns rental income. It values the properties using the fair value model based on prevailing rental markets. After two years of increases the market softened in 2012 and values decreased. A summary of the properties' valuations is as follows:
·Original cost (acquired in 2010)　　　　　　　　　€50.0 million
·Fair value valuation as at December 31, 2010　　　 €50.5 million
·Fair value valuation as at December 31, 2011　　　 €54.5 million
·Fair value valuation as at December 31, 2012　　　 €48.0 million
Which of the following best describes the impact of the revaluation on the 2012 financial statements?