Wasatch Corp. Inventory of Fair Value Measurements: Overview - You have been assigned the auditor over the fair value measurements of Wasatch Corp. as of December 31, 20X2. Per review of prior year financial statements and discussion with the Controller, Mr. Bigfet, you note that all of Wasatch's investments are carried at fair value. - Per review of the preliminary trial balance of Wasatch, you note two assets that have been recorded at fair value. Investment for $34.1 million, or approximately 15% of total assets as of December 31, 20x2 and was comprised of the following: Financial Asset Type Fair Value at 12i3JJZOX2 Municipal Bond, San Marcos, TX $ 10,162,000 (4% coupon, 12!31IX6 maturity, A rated) Intangible Asset Broadcast License $ 24,034,209