A few questions : (1) what does averaging market values over at most 2 years mean ? Is it the averaging methodology described in the 412 regs ? and (2) If you change to say market value for a 1/1/06 valuation, are you locked in until 1/1/2011 or do you have to conform to 2 years in 2008 & stay with it ?

And I'm assuming the 2 year averaging methodology isn't required until 2008 ?