The levels of hierarchy are described below:
• Level 1: Quoted prices in activemarkets for identical assets or liabilities.
• Level 2: Inputs other than quoted prices that are observable for the asset or
liability, either directly or indirectly; these include quoted prices for similar
assets or liabilities in active markets and quoted prices for identical or similar
assets or liabilities inmarkets that are not active.
• Level 3: Unobservable inputs for which there is little or no market data
available, which require the reporting entity to develop its own assumptions.