Sandy Ltd (Sandy) measures its investment in Blue Chip Ltd (Blue Chip) shares at fair value. Blue Chip shares are listed and actively traded on the stock exchange. Which one of the following valuations should Sandy use to measure its investment in shares in Blue Chip in its financial statements at 30 June 2019? O an estimate derived from a model that uses observable industry growth rates and past cash flows O the average price of Blue Chip shares on the stock market from 1 June 2019 to 30 June 2019 O an estimate derived from a model that uses Sandy's estimates of Blue Chip's future profits and required rate of return the closing price of Blue Chip shares on the stock market at 30 June 2019