Fair value determination   LO5, 6 Which of the following is included in determining the fair value of a biological asset that does not have an active market and which has a 5-year production cycle? 1. Revenue from sale in 5 years’ time 2. Costs of growing for 5 years 3. Financing costs on borrowings taken out to fund the growing costs 4. Taxation on taxable income generated from sale in 5 years’ time 5. Discount rate that reflects expected variability in cash flows