19. Which of the following is an appropriate cost approach for determining fair value measurements? a. Using relevant information from recent transactions. b. Using present value techniques to discount cash flows. c. Using the current replacement cost of the asset. d. Using the undiscounted cash flows from the asset.

20. Which of the following concerning inputs used in determination of fair value is/are correct?

I. Only observable inputs can be used. II. Inputs that incorporate the entity's assumptions may be used.

a. I only. b. II only. c. Both I and II. d. Neither I nor II

**Please provide all computations and explanations. Thank you!!