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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

image text in transcribed 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. $ 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. $

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