Invest Ltd bought corporate bonds two years ago. At the fiscal year end, June 30, 2020, another firm sold these bonds at $900,000. But Invest Ltd used their own model with projected future cash flows from these bonds and concluded that the value of bonds were $940,000. What should be the fair value of these bonds?

Group of answer choices

Between $900,000 and $940,000

Not sure

$940,000

$900,000