1. Which one of the following statements is correct?

   		Market value is the amount of cash the owner hopes to receive if an asset is sold.
   		Market value is equal to the replacement value of an asset.
   		Book value is equal to the initial cost minus the depreciation to date.
   		Book value is the greater of the depreciated cost or the current market value.
   		Book value is the greater of the initial cost or the current market value.