Thank you for making your presentations today.
I'm interested in the issue of replacement cost versus net book value. I can assure you that net book value is always more appreciated from a buyer's perspective, especially with depreciation.
I'm wondering if you've looked at other fairer methods that may be able to satisfy both parties in this particular case, such as replacement value less a nominal rate of return over the life of the investment, such as 10% or something like that. Have there been any discussions as to what would be a fair value, for both parties, at which to purchase it back?