Level 5 of the fair value hierarchy estimates:
A) Market values based on quoted prices for a similar asset, with adjustments made for differences between the subject asset and the similar asset.
B) Market values based on mathematical models that use directly-related market variables as indicators of market value.
C) Market values based on mathematical models that use indirectly-related market variables as indicators of market value.
D) Market values based on mathematical models that use internal business inputs as indicators of market value.
Correct Answer:
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