One of my company's products is appraisal software for county assessor offices. One of our systems analysts just passed the examination to be a certified appraiser so that we know he's qualified to advise us and our clients on how to build and use the system. The director of the tax division announced a gathering to celebrate this. Here's my response:
Hello. I’d like to have a little celebration for Chris’s successful
Appraisal license tomorrow afternoon at 4:30! We shall toast him, and
test him on his valuation methods!
Market: Compare the actual sale prices of several bottles of Wild Turkey
to determine the price per fluid ounce in a particular economic area.
When someone complains about the tax on their bottle of Wild Turkey,
show them three other bottles of Wild Turkey of slightly different age
and size. Point out that their friend's bottle of Wild Turkey purchased
in Olathe is not comparable.
Cost: Look up the distillery date of a bottle of Wild Turkey on a factor
table. Calculate the instantaneous RCNLD as the bottle is consumed.
Income: Determine the price of one shot of Wild Turkey, then calculate
the potential income from selling the whole bottle a shot at a time,
subtracting the value of the bottle itself (five cents in many states,
ten cents in Michigan).