Question 2 (40 Marks) The extract of statement of financial position for the year ended 31 December 2022 for Peridot Ltd and Slate Ltd are as follows: Extract of statement of financial position for the year ended 31 December 2022 On 01 January 2022, Peridot Ltd acquired 504,000 ordinary shares of Slate Ltd and as a result, Peridot Ltd holds 80% shares in Slate Ltd. The purchase consideration was as follows: - Cash paid $650,000 - A deferred cash settlement to be paid in five years' time of $250,000 - By an exchange of three shares in Peridot Ltd for every five shares in Slate Ltd. The market price of Peridot Ltd share at the date of acquisition was $2.5 and the market price of each Slate Ltd share at the date of acquisition was $3.25 Legal fees associated with the acquisition were $105,000. The discount rate of Peridot Ltd is 11%. (a) Calculate the fair value consideration (Costs of investment) transferred to acquire control of Slate Ltd at the date of acquisition. Your answer should include a brief explanation if any of the above issue(s) is/are not required to be accounted in your working(s). [ 10 Marks]