Question 1 (2 points) Parker Ltd provides design services to Shine Ltd but rather than being paid in cash, it is agreed that Shine Ltd will transfer a motor vehicle to Parker Ltd. The motor vehicle is recorded in the financial accounts of Shine Ltd at a cost of $60,000 with accumulated depreciation of $15,000. The carrying amount of the vehicle is $45,000 and the fair value of the motor vehicle is $50,000. How much revenue should Parker Ltd recognise with respect to this transaction? 1) Nil 2) $60.000 3) $45,000 4) $50,000