Shopping Malls Ltd Has Some Land It Purchased Several Years

Shopping Malls Ltd has some land it purchased several years ago for $300 000.It has revalued the land this period to $480 000 and management intends to sell it in the near future.When the land was acquired the index for capital gains tax was 110 and at reporting date it is 132.The tax rate is 30%.What is the entry to record the tax implications of the revaluation?

A)
$$\begin{array} { | l | l | r | r | } \hline \mathrm { Dr } & \text { Asset revaluation reserve } & \$ 69000 & \\\hline \mathrm { Cr } & \text { Deferred tax liability } & & \$ 69000 \\\hline\end{array}$$
B)
$$\begin{array} { | l | l | r | r | } \hline \mathrm { Dr } & \text { Income tax expense } & \$ 54000 & \\\hline \mathrm { Cr } & \text { Deferred tax liability } & & \$ 54000 \\\hline\end{array}$$
C)
$$\begin{array} { | l | l | r | r | } \hline \mathrm { Dr } & \text { Deferred tax asset } & \$ 69000 & \\\hline \mathrm { Cr } & \text { Asset revaluation reserve } & & \$ 69000 \\\hline\end{array}$$
D)
$$\begin{array} { | l | l | r | r | } \hline \mathrm { Dr } & \text { Asset revaluation reserve } & \$ 36000 & \\\hline \mathrm { Cr } & \text { Deferred tax liability } & & \$ 36000 \\\hline\end{array}$$