The correct answer is A. Fair value.
Fair value is the price at which an asset or liability could be exchanged between knowledgeable, willing parties in an arm’s-length transaction. It is the most relevant measure of fair value because it is based on the assumption that the transaction is not influenced by any special relationship between the parties involved.
Market value is the price at which an asset or liability could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. It is based on the assumption that the parties have reasonable knowledge of the relevant facts and that the transaction is not influenced by any special relationship between the parties involved.
Goodwill value is the excess of the purchase price of an asset over the fair value of the net assets acquired. It is an intangible asset that represents the value of a company’s brand, customer relationships, and other intangible assets that are not separately identifiable.
Book value is the value of an asset or liability as recorded on a company’s balance sheet. It is calculated by taking the original cost of the asset or liability and subtracting any accumulated depreciation or amortization.
In the case of property, fair value is the most relevant measure because it is based on the assumption that the transaction is not influenced by any special relationship between the parties involved. This is the most likely price that a willing buyer would pay for the property and a willing seller would accept.