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Remsen Corp is a US manufacturer of auto parts with branch operations in France. On January 1, 2023 Remsen wishes to use a foreign currency option to hedge a 20,000,000 swiss franc denominated accounts payable that is due in two years. Jordan wishes to use fair value hedge accounting. Over the subsequent 4 quarters the following are the changes in the fair value of the accounts payable and the fair value of the foreign currency option hedge. Quarter ended March 31, 2023: Swiss franc payable increases by $400,000 Option hedge declines by $350,000 Quarter ended June 30, 2023: Swiss franc payable decreases by $500,000 Option hedge increases by $400,000 Quarter ended Sept. 30, 2023: Swiss franc payable decreases by $800,000 Option hedge increases by $700,000 Quarter ended Dec. 31, 2023: Swiss franc payable increases by $200,000 Option hedge decreases by $100,000 Answer the following questions: 2. Identify by codification reference, e.g., xxxxxxxxx, and attach AND HIGHLIGHT the appropriate section(s) of the FASB codification that describe the alternate criteria that can be used to determine at December 31, 2023 whether or not this has been an effective fair value hedge ( 2 points ). State these criteria in your own words. (1 point)