=+3. In its 1994 monograph on future events, the FASB discussed several ori-

entations that might be related to asset valuation. As an example of its thinking, assume that we are assessing future sales of a product for the purpose of determining the value of the asset which is used to manu-

facture the product. The product is expected to sell for $25 per unit.

Probability and unit sales are shown here, Probability Estimated Sales 45 0

.10 5000

.30 6000

.15 8000 Required:

Part 1