You work as an assistant accountant in a company, Investment Ltd, that has investment properties on its Statement of Financial Position. The company is listed on NZX and presents the following investment properties at fair value in its statement of financial position in accordance with NZ IFRSs. The company must re-measure these properties at fair value at the end of the current year.

#Property Property location Type of property Number Property land size (squared meters) House size (squared meters) #Bedroo ms #Bathr ooms Parkin g space Current rent per week ($) Student name (ID): 2 #1 Papakura Townhou se 3 600 180 3 2 Two cars per townh ouse 700 #2 Manurew a Townhou se 4 450 90 2 1 One car per townh ouse 600 #3 Papatoeto e Individual , singlelevel unit 1 350 100 3 1 3 cars 650 Required: (a) Estimate the fair value of the properties of Investment Ltd. Document the fair value estimation methods, the sources of data, and the estimates and judgments applied in estimating the fair values, keeping in mind that the independent auditor will evaluate the methods, estimates and judgments.