A passenger's custom electric wheelchair is crushed and destroyed during transit due to carrier negligence. Under Article 7(4) of Regulation (EU) No 181/2011, what is the carrier's compensation liability?

1. Limited strictly to EUR 1,200 as standard baggage
2. Equal to the full replacement cost or repair cost of the destroyed wheelchair, including where necessary providing temporary replacement equipment immediately
3. Limited to the price of the passenger's one-way bus ticket
4. Zero liability because the wheelchair was stored in the luggage compartment