Using 600 words or more define and explain each of the following valuation methods used in financial statements: (1) Historical cost; (2) Lower-of-cost-or-market; (3) Depreciated book value; (4) Amortized book value; (5) Present value; (6) Future cost; and (7) Actuarially estimated present value. For each of the seven methods, give an example of an asset or a liability that uses that method.