Assess the use of fair value concerning the machine. there is no principal market for this machine in Australia. The most advantageous market is overseas, which is not always followed by the accounting department. the fair value calculation is considered at level 3. The increase in expected price in the last year was due to specific political and economic matters. Your company is the only Australian company using this machine manufactured in Ukraine. Please note that Australia is having some level of inflation (consider using inflation in your arguments). Additionally, Ukraine is under a war. These two facts (inflation and war) can affect your evaluation. Ukraine cannot produce or send this machine on short notice, which created a huge demand for this type of machine in Australia

evaluate opinion about the use of fair value and the related Australian accounting regulation