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Cherish Australia Ltd owns a vintage motor vehicle that it is contractually obligated to either give away as a prize for a lottery or sell
Cherish Australia Ltd owns a vintage motor vehicle that it is contractually obligated to either give away as a prize for a lottery or sell it back to the dealership that it purchased it from. These restrictions only apply to Cherish Australia. Applying AASB Fair Value Measurement, which of the following would be the MOST APPROPRIATE fair value measurement for this asset prices inclusive of transport costs and in the primary market
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$: the price that would be received when the motor vehicle is given to the lottery winner.
$: the highest price that would be received if Cherish Australia sold the motor vehicle to a collector of vintage cars.
$: the highest price that would be received if an expert seller of vintage cars sold the motor vehicle to a collector of vintage cars.
$: the price that would be received if Cherish Australia sold the motor vehicle back to the car dealership.
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