Determining Fair Value Measurement

In preparing its December $31$ year$-$end financial statements, Diego Enterprises is measuring the fair value of its $100$ share investment in Javier Inc., originally purchased at $$105$ per

share at January $1$ of this year. Shares of Javier Inc. are actively traded on two stock exchanges. The quoted stock price and transactions cost per share are $$112$ and $$4$ for Exchange One

and $$115$ and $$8$ for Exchange Two, respectively, on December $31.$

a$.$ Determine the fair value measurement of the investment in Javier Inc. if Exchange One is determined to be the principal market.

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b$.$ Determine the fair value measurement of the investment in Javier Inc. if Exchange Two is determined to be the principal market.

c$.$ Determine the fair value measurement of the investment in Javier Inc. if there is determined to be no principal market.