The Implied Value of a Special Purpose Entity (SPE) at Acquisition

The implied value of a special purpose entity (SPE) at acquisition under Canadian GAAP is equal to:

A) the fair value of SPE.
B) the fair value of the non-controlling interest of the SPE.
C) the book value of the SPE.
D) the fair value of the consideration paid by the primary beneficiary to the owners of the business plus the fair value of the non-controlling interest of the SPE.