Price per square metre for a building derived from observable market data is an example of a level 2 input.

Question

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A price per square metre for a building that is based on observable market data would be considered a level 2 input because it is an observable market input that is derived from market-derived prices or observable data. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, but that are not as significant as Level 1 inputs.

Price Per Square Metre for a Building Derived from Observable