Marvesse transfers a customer database, with a carrying amount of 90,000, in exchange for a software operating licence, with no cash adjustment. The exchange has commercial substance. The fair value of the database is reliably estimated at 210,000, based on recent transactions in comparable databases and within a narrow range. The fair value of the licence received, estimated at 240,000 using an internal model, is reliable but less clearly evident than that of the database given up. What is the cost of the licence received?
- Carrying amount of the database given up
- 90,000
- Fair value of the database given up
- 210,000
- Estimated fair value of the licence received
- 240,000