Mr. John Moran:

We do, yes. We assess the rental evidence at the time and apply what we think is the appropriate rent for the piece of real estate, adjust that for size and location, or otherwise, to arrive at what we think is the true market rental value of the property. We then apply an investment yield to that. That is based on whatever transactions are taking place in the market at the time. There is usually a sufficient depth of transactions to allow one to make that comparison. One takes that rental value, capitalises it at that yield, deducts the necessary purchaser's costs which are-----