For the example below, list and describe the input(s) (observable or unobservable) and valuation technique(s) used. Determine the appropriate classification in the fair value hierarchy. (5pts) On January 1, 20X1. Entity B issues at par a $2 million BBB-rated exchange- traded 5-year fixed-rate debt instrument with an annual 10 percent coupon.Entity B has elected to account for this instrument using the fair value option. On December 31, 20X1, the instrument is trading as an asset in an active market at $929 per $1,000 of par value after payment of accrued interest. Entity Buses the quoted price of the asset in an active market as its initial input into the fair value measurement of its liability ($929 * [$2 million + $1,000] = $1,858,000). No adjustments are required to the quoted price of the asset. X