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MARKET CLOSURES ARE TREATED AS HOLIDAYS
How Does EstateVal Value Securities Around the Sept. 11, 2001 Market Closures?

EstateVal Delivers Correct Prices for Evaluations During the Closures

IRS Regulation 20.2031-2(b)1 addresses inversely weighted means. Means are inversely weighted with respect to the number of trading days between the valuation date and pricing dates. Since markets were closed from September 11, 2001 through September 14, 2001, the weighting should not apply and means are derived from a straight average of the 10th and the 17th.

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