On January $2,2011,$ Charisma Company, a public company, issued $$50$ million of two$-$year bonds bearing interest at $8\%$ in denominations of $$1,000,$ payable on December $31,2012.$ The company has elected to value the bonds at fair value as It wishes to match the funding with the corresponding purchase of some fair value assets. The bonds are traded in an active market. Subsequent to January $2,2011,$ interest rates have increased to $9\%$ for similar new debt issues and the financial performance of Charisma has deteriorated from the levels of $2009$ and $2010.$ At December $31,2011,$ the Company is trying to determine the fair value of the bonds.

Which valuation technique would provide the most reliable fair value of Charisma's bonds at December $31,2011?$

Discount to face value for similar bonds issued

Fair value as a percentage of the fair value of the assets at December $31.2011$

Quoted market prices in an active market

Dicounted cash fown of $$50$ million doe inone year at $9\%$ riteral