Provisions, Contingent Liabilities and Contingent Assets

**Section A** Oceanic Drillers, a cross-border multinational, has a decommissioning provision for an offshore rig. At 1 January 20X5, the provision was $800,000, based on a discount rate of 5%. During 20X5, the unwinding of the discount was recorded. On 31 December 20X5, due to rising interest rates, the appropriate discount rate increased to 7%, reducing the present value of the obligation by $60,000. How should this $60,000 decrease be accounted for, assuming the related asset is measured under the cost model?