(a) Provide a definition of the deprival value of an asset.
(b) For a particular asset, suppose the three bases of valuation relevant to the calculation of its deprival value are (in thousands of euros): €12, €10 and €8. Construct a matrix of columns and rows showing all the possible alternative situations and, in each case, indicate the appropriate deprival value.
(c) Justify the use of deprival value as a method of asset valuation, using the matrix in (b) to illustrate your answer.