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. U Mobile Stay S... 4G 2:03 PM 55% FINAL ASSESSMENT 1_QUESTI... BKARMII FINANCIAL ACCOUNTING AND REPORTING CHE QUESTION 1 (20 MARKS) Gramax Health Bhd (GHB), a company operates in a health industry is working in a project to develop a test kit that is able to determine the level of immunity a person has towards Cavid 19 based on his or her antibodies with higher accuracy rate compared with other similar test kits that are available in the market. In a recent business combination, GHB acquires a research and development (R&D) project of Vital Life Bhd (VLB) to develop a similar fest kit with the one is develops. GHB does not intend to complete the project that had been acquired as it would compete with its own project is main intention to acquire the project is to prevent is competitors from obtaining access to the technology, Meanwhile, as part of its effort to fund its R&D projects, on 31 December 2019 GHB issued at par in a private placement a RM3 million year fixed rate bond with an annual 10 interest coupon rate. On 31 December 2020. GHB's credit spread has deteriorated due to change in its non-performance risk of the bond was issued on 31 December 2020, the instrument would need to have an interest rate of 11%. In reducing its reliance on third party service. GHB also plans to acquire Magnificent Sdn Bhd, a local transportation company. Magnificent Sdn Bhd's estimated cash flow before tax) for the neu four years are RM167.500, RM12.200, RM191.300, and RM198.300 with probability of attainment of the cash flows 98% for the first two years and 85% afterwards. The cash flows of Magnificent Sdn Bhd beyond year four is expected to be indefinite. The estimated weighted average cost of capital for Magnificent Sdn Bhd is although it is expected that an additional risks premium of 15 will be applicable to Magnificent Sdn Bhd due to its smaller site and unlisted status. GHB accounting year ende en 31 December REQUIRED: (a) Discuss the process of determining the fair value of the asset acquired from VLB as prescribed by MFRS 13 Fair Value Measurement Mark) b) Determine the fair value of the bond at the end of December 2020 (c) Assume the effective company tax rate renains unchanged a 245 So 2021 to 2025 Calculate the fair value of Magnificent Sdn Bhd, at the end of December 2020 using discounted cash flow method. Round up your worto the near RM. & Marks) BEARIOS FINANCIAL ACCOUNTING AND REPORTING MI . U Mobile Stay S... 4G 2:03 PM 55% FINAL ASSESSMENT 1_QUESTI... BKARMII FINANCIAL ACCOUNTING AND REPORTING CHE QUESTION 1 (20 MARKS) Gramax Health Bhd (GHB), a company operates in a health industry is working in a project to develop a test kit that is able to determine the level of immunity a person has towards Cavid 19 based on his or her antibodies with higher accuracy rate compared with other similar test kits that are available in the market. In a recent business combination, GHB acquires a research and development (R&D) project of Vital Life Bhd (VLB) to develop a similar fest kit with the one is develops. GHB does not intend to complete the project that had been acquired as it would compete with its own project is main intention to acquire the project is to prevent is competitors from obtaining access to the technology, Meanwhile, as part of its effort to fund its R&D projects, on 31 December 2019 GHB issued at par in a private placement a RM3 million year fixed rate bond with an annual 10 interest coupon rate. On 31 December 2020. GHB's credit spread has deteriorated due to change in its non-performance risk of the bond was issued on 31 December 2020, the instrument would need to have an interest rate of 11%. In reducing its reliance on third party service. GHB also plans to acquire Magnificent Sdn Bhd, a local transportation company. Magnificent Sdn Bhd's estimated cash flow before tax) for the neu four years are RM167.500, RM12.200, RM191.300, and RM198.300 with probability of attainment of the cash flows 98% for the first two years and 85% afterwards. The cash flows of Magnificent Sdn Bhd beyond year four is expected to be indefinite. The estimated weighted average cost of capital for Magnificent Sdn Bhd is although it is expected that an additional risks premium of 15 will be applicable to Magnificent Sdn Bhd due to its smaller site and unlisted status. GHB accounting year ende en 31 December REQUIRED: (a) Discuss the process of determining the fair value of the asset acquired from VLB as prescribed by MFRS 13 Fair Value Measurement Mark) b) Determine the fair value of the bond at the end of December 2020 (c) Assume the effective company tax rate renains unchanged a 245 So 2021 to 2025 Calculate the fair value of Magnificent Sdn Bhd, at the end of December 2020 using discounted cash flow method. Round up your worto the near RM. & Marks) BEARIOS FINANCIAL ACCOUNTING AND REPORTING MI