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A valuation is a process that encompasses economic costs and benefits on both an explicit and implicit basis. Costs and benefits can be expressed as

A valuation is a process that encompasses economic costs and benefits on both an explicit and implicit basis. Costs and benefits can be expressed as actual cash receipts (and disbursements) and opportunity costs, which reflect the highest valued alternative forsaken to pursue a given decision. Explain how you would go about factoring or estimating those implicit or opportunity cost issues in your opinion. Include either a real world or hypothetical example to support your approach.

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