To complete the equivalence statement:
- The degree value is \( 45^\circ \).
- The exact value in simplest form for \(\sin(45^\circ)\) or \(\sin\left(\frac{\pi}{4}\right)\) is \(\frac{\sqrt{2}}{2}\).
So, the completed statement is: \(\sin 45^\circ = \sin \frac{\pi}{4} = \frac{\sqrt{2}}{2}\)