detail which level of hierarchical input applies to each asset and for you to also explain what the appropriate value would be once the hierarchy is applied.

Asset #1: Investment in local school district bonds. Par value of the bonds is $2,000,000. Stated interest rate is 8%. The bonds were purchased a year ago at a 1% premium above par value. The bonds will mature in 19 years. Other information:

• The bonds are classified as available-for-sale securities.
• There are no identical school district bonds in the debt market. A neighboring city has a bond issue with similar characteristics that is currently selling at 99 in the debt market.
• Theamortizedcostofthebondatyearendwillbe$2,019,000.
• Asset#2:Thecompanyownsaretailbuildingdowntown.Thebuildingcurrentlyhousesacoffeehousebusinessthatleasesthespace(onamonthtomonthbasis)for$2,000amonthrent.Thezoningisdual,though,andthebuildingcouldbeconvertedtoprivateresidencecondos.Thevalueofthebuildingwouldbemuchhigheriftheconversionweretooccur.Thecompanyboughtthebuildingseveralyearsagofor$200,000.ThecompanyliststhisbuildingintheInvestmentscategoryonitsclassifiedbalancesheet.Arecentappraisalmadebythecountyassessorforpropertytaxpurposeswasfor$350,000.Ifthebuildingwereconvertedto3condostheycouldsell(conservativeestimate)for$500,000each.Thecosttocreateeachcondooutoftheexistingspacewouldbe$250,000.
• Asset#3:Thecompanyhasusedsomeidlecashandhasinvestedin4equitypositions.Eachpositioncoststhecompany$10,000andeachpositioniscomprisedof100sharesofstock.Therespectivepersharefairvaluesofthefourcompaniesatyearendare$110,$103,$87,and$68.Thecompanyclassifiesallofthesesecuritiesastradingsecurities.