id	sid	tid	token	lemma	pos
fbem-9136	1	1	frontiers	frontier	NOUN
fbem-9136	1	2	in	in	ADP
fbem-9136	1	3	business	business	NOUN
fbem-9136	1	4	,	,	PUNCT
fbem-9136	1	5	economics	economic	NOUN
fbem-9136	1	6	and	and	CCONJ
fbem-9136	1	7	management	management	NOUN
fbem-9136	1	8	issn	issn	PROPN
fbem-9136	1	9	:	:	PUNCT
fbem-9136	1	10	2766	2766	NUM
fbem-9136	1	11	-	-	PUNCT
fbem-9136	1	12	824x	824x	NUM
fbem-9136	1	13	|	|	ADJ
fbem-9136	1	14	vol	vol	NOUN
fbem-9136	1	15	.	.	PROPN
fbem-9136	2	1	9	9	NUM
fbem-9136	2	2	,	,	PUNCT
fbem-9136	2	3	no	no	INTJ
fbem-9136	2	4	.	.	NOUN
fbem-9136	2	5	2	2	NUM
fbem-9136	2	6	,	,	PUNCT
fbem-9136	2	7	2023	2023	NUM
fbem-9136	2	8	108	108	NUM
fbem-9136	2	9	study	study	NOUN
fbem-9136	2	10	on	on	ADP
fbem-9136	2	11	the	the	DET
fbem-9136	2	12	application	application	NOUN
fbem-9136	2	13	of	of	ADP
fbem-9136	2	14	the	the	DET
fbem-9136	2	15	income	income	NOUN
fbem-9136	2	16	approach	approach	NOUN
fbem-9136	2	17	in	in	ADP
fbem-9136	2	18	the	the	DET
fbem-9136	2	19	valuation	valuation	NOUN
fbem-9136	2	20	of	of	ADP
fbem-9136	2	21	road	road	NOUN
fbem-9136	2	22	toll	toll	NOUN
fbem-9136	2	23	rights	right	NOUN
fbem-9136	2	24	shuangshuang	shuangshuang	PROPN
fbem-9136	2	25	chen1	chen1	PROPN
fbem-9136	2	26	,	,	PUNCT
fbem-9136	2	27	*	*	SYM
fbem-9136	2	28	1	1	NUM
fbem-9136	2	29	school	school	NOUN
fbem-9136	2	30	of	of	ADP
fbem-9136	2	31	digital	digital	ADJ
fbem-9136	2	32	economy	economy	NOUN
fbem-9136	2	33	&	&	CCONJ
fbem-9136	2	34	trade	trade	PROPN
fbem-9136	2	35	,	,	PUNCT
fbem-9136	2	36	wenzhou	wenzhou	PROPN
fbem-9136	2	37	polytechnic	polytechnic	PROPN
fbem-9136	2	38	,	,	PUNCT
fbem-9136	2	39	china	china	PROPN
fbem-9136	2	40	*	*	PUNCT
fbem-9136	2	41	corresponding	correspond	VERB
fbem-9136	2	42	author	author	NOUN
fbem-9136	2	43	:	:	PUNCT
fbem-9136	2	44	chen	chen	PROPN
fbem-9136	2	45	shuangshuang	shuangshuang	PROPN
fbem-9136	2	46	(	(	PUNCT
fbem-9136	2	47	email:361071213@qq.com	email:361071213@qq.com	NOUN
fbem-9136	2	48	)	)	PUNCT
fbem-9136	2	49	abstract	abstract	NOUN
fbem-9136	2	50	:	:	PUNCT
fbem-9136	2	51	highway	highway	NOUN
fbem-9136	2	52	toll	toll	NOUN
fbem-9136	2	53	rights	right	NOUN
fbem-9136	2	54	are	be	AUX
fbem-9136	2	55	intangible	intangible	ADJ
fbem-9136	2	56	assets	asset	NOUN
fbem-9136	2	57	dependent	dependent	ADJ
fbem-9136	2	58	on	on	ADP
fbem-9136	2	59	the	the	DET
fbem-9136	2	60	physical	physical	ADJ
fbem-9136	2	61	assets	asset	NOUN
fbem-9136	2	62	of	of	ADP
fbem-9136	2	63	highways	highway	NOUN
fbem-9136	2	64	,	,	PUNCT
fbem-9136	2	65	and	and	CCONJ
fbem-9136	2	66	their	their	PRON
fbem-9136	2	67	value	value	NOUN
fbem-9136	2	68	assessment	assessment	NOUN
fbem-9136	2	69	differs	differ	VERB
fbem-9136	2	70	greatly	greatly	ADV
fbem-9136	2	71	from	from	ADP
fbem-9136	2	72	that	that	PRON
fbem-9136	2	73	of	of	ADP
fbem-9136	2	74	general	general	ADJ
fbem-9136	2	75	intangible	intangible	ADJ
fbem-9136	2	76	assets	asset	NOUN
fbem-9136	2	77	.	.	PUNCT
fbem-9136	3	1	on	on	ADP
fbem-9136	3	2	the	the	DET
fbem-9136	3	3	basis	basis	NOUN
fbem-9136	3	4	of	of	ADP
fbem-9136	3	5	elaborating	elaborate	VERB
fbem-9136	3	6	their	their	PRON
fbem-9136	3	7	special	special	ADJ
fbem-9136	3	8	characteristics	characteristic	NOUN
fbem-9136	3	9	,	,	PUNCT
fbem-9136	3	10	this	this	DET
fbem-9136	3	11	paper	paper	NOUN
fbem-9136	3	12	analyses	analyse	VERB
fbem-9136	3	13	the	the	DET
fbem-9136	3	14	theoretical	theoretical	ADJ
fbem-9136	3	15	basis	basis	NOUN
fbem-9136	3	16	and	and	CCONJ
fbem-9136	3	17	calculation	calculation	NOUN
fbem-9136	3	18	model	model	NOUN
fbem-9136	3	19	of	of	ADP
fbem-9136	3	20	the	the	DET
fbem-9136	3	21	present	present	ADJ
fbem-9136	3	22	value	value	NOUN
fbem-9136	3	23	of	of	ADP
fbem-9136	3	24	revenue	revenue	NOUN
fbem-9136	3	25	method	method	NOUN
fbem-9136	3	26	in	in	ADP
fbem-9136	3	27	the	the	DET
fbem-9136	3	28	valuation	valuation	NOUN
fbem-9136	3	29	of	of	ADP
fbem-9136	3	30	highway	highway	NOUN
fbem-9136	3	31	toll	toll	NOUN
fbem-9136	3	32	rights	right	NOUN
fbem-9136	3	33	,	,	PUNCT
fbem-9136	3	34	and	and	CCONJ
fbem-9136	3	35	puts	put	VERB
fbem-9136	3	36	forward	forward	ADV
fbem-9136	3	37	policy	policy	NOUN
fbem-9136	3	38	and	and	CCONJ
fbem-9136	3	39	technical	technical	ADJ
fbem-9136	3	40	suggestions	suggestion	NOUN
fbem-9136	3	41	for	for	ADP
fbem-9136	3	42	the	the	DET
fbem-9136	3	43	future	future	ADJ
fbem-9136	3	44	application	application	NOUN
fbem-9136	3	45	of	of	ADP
fbem-9136	3	46	the	the	DET
fbem-9136	3	47	revenue	revenue	NOUN
fbem-9136	3	48	method	method	NOUN
fbem-9136	3	49	in	in	ADP
fbem-9136	3	50	the	the	DET
fbem-9136	3	51	act	act	NOUN
fbem-9136	3	52	of	of	ADP
fbem-9136	3	53	transferring	transfer	VERB
fbem-9136	3	54	toll	toll	NOUN
fbem-9136	3	55	rights	right	NOUN
fbem-9136	3	56	.	.	PUNCT
fbem-9136	4	1	keywords	keyword	NOUN
fbem-9136	4	2	:	:	PUNCT
fbem-9136	4	3	road	road	NOUN
fbem-9136	4	4	toll	toll	NOUN
fbem-9136	4	5	rights	right	NOUN
fbem-9136	4	6	,	,	PUNCT
fbem-9136	4	7	asset	asset	NOUN
fbem-9136	4	8	valuation	valuation	NOUN
fbem-9136	4	9	,	,	PUNCT
fbem-9136	4	10	present	present	ADJ
fbem-9136	4	11	value	value	NOUN
fbem-9136	4	12	of	of	ADP
fbem-9136	4	13	revenues	revenue	NOUN
fbem-9136	4	14	approach	approach	NOUN
fbem-9136	4	15	.	.	PUNCT
fbem-9136	5	1	1	1	X
fbem-9136	5	2	.	.	X
fbem-9136	5	3	introduction	introduction	NOUN
fbem-9136	5	4	since	since	SCONJ
fbem-9136	5	5	the	the	DET
fbem-9136	5	6	end	end	NOUN
fbem-9136	5	7	of	of	ADP
fbem-9136	5	8	the	the	DET
fbem-9136	5	9	last	last	ADJ
fbem-9136	5	10	century	century	NOUN
fbem-9136	5	11	,	,	PUNCT
fbem-9136	5	12	the	the	DET
fbem-9136	5	13	transfer	transfer	NOUN
fbem-9136	5	14	of	of	ADP
fbem-9136	5	15	highway	highway	NOUN
fbem-9136	5	16	toll	toll	NOUN
fbem-9136	5	17	rights	right	NOUN
fbem-9136	5	18	and	and	CCONJ
fbem-9136	5	19	interests	interest	NOUN
fbem-9136	5	20	has	have	AUX
fbem-9136	5	21	gradually	gradually	ADV
fbem-9136	5	22	developed	develop	VERB
fbem-9136	5	23	,	,	PUNCT
fbem-9136	5	24	and	and	CCONJ
fbem-9136	5	25	after	after	ADP
fbem-9136	5	26	only	only	ADV
fbem-9136	5	27	twenty	twenty	NUM
fbem-9136	5	28	years	year	NOUN
fbem-9136	5	29	of	of	ADP
fbem-9136	5	30	exploration	exploration	NOUN
fbem-9136	5	31	and	and	CCONJ
fbem-9136	5	32	practice	practice	NOUN
fbem-9136	5	33	,	,	PUNCT
fbem-9136	5	34	the	the	DET
fbem-9136	5	35	transfer	transfer	NOUN
fbem-9136	5	36	of	of	ADP
fbem-9136	5	37	toll	toll	NOUN
fbem-9136	5	38	rights	right	NOUN
fbem-9136	5	39	and	and	CCONJ
fbem-9136	5	40	interests	interest	NOUN
fbem-9136	5	41	has	have	AUX
fbem-9136	5	42	revitalized	revitalize	VERB
fbem-9136	5	43	a	a	DET
fbem-9136	5	44	large	large	ADJ
fbem-9136	5	45	number	number	NOUN
fbem-9136	5	46	of	of	ADP
fbem-9136	5	47	highway	highway	NOUN
fbem-9136	5	48	assets	asset	NOUN
fbem-9136	5	49	,	,	PUNCT
fbem-9136	5	50	which	which	PRON
fbem-9136	5	51	has	have	AUX
fbem-9136	5	52	given	give	VERB
fbem-9136	5	53	a	a	DET
fbem-9136	5	54	strong	strong	ADJ
fbem-9136	5	55	impetus	impetus	NOUN
fbem-9136	5	56	to	to	ADP
fbem-9136	5	57	the	the	DET
fbem-9136	5	58	rapid	rapid	ADJ
fbem-9136	5	59	development	development	NOUN
fbem-9136	5	60	of	of	ADP
fbem-9136	5	61	china	china	PROPN
fbem-9136	5	62	's	's	PART
fbem-9136	5	63	highway	highway	NOUN
fbem-9136	5	64	transportation	transportation	NOUN
fbem-9136	5	65	industry	industry	NOUN
fbem-9136	5	66	.	.	PUNCT
fbem-9136	6	1	since	since	SCONJ
fbem-9136	6	2	the	the	DET
fbem-9136	6	3	transfer	transfer	NOUN
fbem-9136	6	4	of	of	ADP
fbem-9136	6	5	road	road	NOUN
fbem-9136	6	6	toll	toll	NOUN
fbem-9136	6	7	interests	interest	NOUN
fbem-9136	6	8	is	be	AUX
fbem-9136	6	9	an	an	DET
fbem-9136	6	10	intangible	intangible	ADJ
fbem-9136	6	11	asset	asset	NOUN
fbem-9136	6	12	,	,	PUNCT
fbem-9136	6	13	it	it	PRON
fbem-9136	6	14	will	will	AUX
fbem-9136	6	15	certainly	certainly	ADV
fbem-9136	6	16	involve	involve	VERB
fbem-9136	6	17	the	the	DET
fbem-9136	6	18	valuation	valuation	NOUN
fbem-9136	6	19	of	of	ADP
fbem-9136	6	20	toll	toll	NOUN
fbem-9136	6	21	rights	right	NOUN
fbem-9136	6	22	,	,	PUNCT
fbem-9136	6	23	which	which	PRON
fbem-9136	6	24	raises	raise	VERB
fbem-9136	6	25	a	a	DET
fbem-9136	6	26	series	series	NOUN
fbem-9136	6	27	of	of	ADP
fbem-9136	6	28	questions	question	NOUN
fbem-9136	6	29	such	such	ADJ
fbem-9136	6	30	as	as	ADP
fbem-9136	6	31	what	what	PRON
fbem-9136	6	32	is	be	AUX
fbem-9136	6	33	the	the	DET
fbem-9136	6	34	difference	difference	NOUN
fbem-9136	6	35	between	between	ADP
fbem-9136	6	36	the	the	DET
fbem-9136	6	37	valuation	valuation	NOUN
fbem-9136	6	38	of	of	ADP
fbem-9136	6	39	toll	toll	NOUN
fbem-9136	6	40	rights	right	NOUN
fbem-9136	6	41	and	and	CCONJ
fbem-9136	6	42	the	the	DET
fbem-9136	6	43	valuation	valuation	NOUN
fbem-9136	6	44	of	of	ADP
fbem-9136	6	45	general	general	ADJ
fbem-9136	6	46	intangible	intangible	ADJ
fbem-9136	6	47	assets	asset	NOUN
fbem-9136	6	48	,	,	PUNCT
fbem-9136	6	49	why	why	SCONJ
fbem-9136	6	50	the	the	DET
fbem-9136	6	51	measures	measure	NOUN
fbem-9136	6	52	for	for	ADP
fbem-9136	6	53	the	the	DET
fbem-9136	6	54	transfer	transfer	NOUN
fbem-9136	6	55	of	of	ADP
fbem-9136	6	56	toll	toll	NOUN
fbem-9136	6	57	road	road	NOUN
fbem-9136	6	58	interests	interest	NOUN
fbem-9136	6	59	stipulate	stipulate	VERB
fbem-9136	6	60	the	the	DET
fbem-9136	6	61	use	use	NOUN
fbem-9136	6	62	of	of	ADP
fbem-9136	6	63	the	the	DET
fbem-9136	6	64	present	present	ADJ
fbem-9136	6	65	value	value	NOUN
fbem-9136	6	66	of	of	ADP
fbem-9136	6	67	earnings	earning	NOUN
fbem-9136	6	68	method	method	NOUN
fbem-9136	6	69	to	to	PART
fbem-9136	6	70	assess	assess	VERB
fbem-9136	6	71	its	its	PRON
fbem-9136	6	72	value	value	NOUN
fbem-9136	6	73	,	,	PUNCT
fbem-9136	6	74	how	how	SCONJ
fbem-9136	6	75	to	to	PART
fbem-9136	6	76	use	use	VERB
fbem-9136	6	77	the	the	DET
fbem-9136	6	78	present	present	ADJ
fbem-9136	6	79	value	value	NOUN
fbem-9136	6	80	of	of	ADP
fbem-9136	6	81	earnings	earning	NOUN
fbem-9136	6	82	method	method	NOUN
fbem-9136	6	83	for	for	ADP
fbem-9136	6	84	assessment	assessment	NOUN
fbem-9136	6	85	and	and	CCONJ
fbem-9136	6	86	what	what	PRON
fbem-9136	6	87	are	be	AUX
fbem-9136	6	88	the	the	DET
fbem-9136	6	89	shortcomings	shortcoming	NOUN
fbem-9136	6	90	of	of	ADP
fbem-9136	6	91	using	use	VERB
fbem-9136	6	92	the	the	DET
fbem-9136	6	93	present	present	ADJ
fbem-9136	6	94	value	value	NOUN
fbem-9136	6	95	of	of	ADP
fbem-9136	6	96	earnings	earning	NOUN
fbem-9136	6	97	method	method	NOUN
fbem-9136	6	98	for	for	ADP
fbem-9136	6	99	assessment	assessment	NOUN
fbem-9136	6	100	.	.	PUNCT
fbem-9136	7	1	in	in	ADP
fbem-9136	7	2	this	this	DET
fbem-9136	7	3	paper	paper	NOUN
fbem-9136	7	4	,	,	PUNCT
fbem-9136	7	5	the	the	DET
fbem-9136	7	6	author	author	NOUN
fbem-9136	7	7	will	will	AUX
fbem-9136	7	8	draw	draw	VERB
fbem-9136	7	9	on	on	ADP
fbem-9136	7	10	the	the	DET
fbem-9136	7	11	experience	experience	NOUN
fbem-9136	7	12	of	of	ADP
fbem-9136	7	13	the	the	DET
fbem-9136	7	14	former	former	ADJ
fbem-9136	7	15	in	in	ADP
fbem-9136	7	16	this	this	DET
fbem-9136	7	17	article	article	NOUN
fbem-9136	7	18	,	,	PUNCT
fbem-9136	7	19	the	the	DET
fbem-9136	7	20	author	author	NOUN
fbem-9136	7	21	will	will	AUX
fbem-9136	7	22	draw	draw	VERB
fbem-9136	7	23	on	on	ADP
fbem-9136	7	24	the	the	DET
fbem-9136	7	25	research	research	NOUN
fbem-9136	7	26	results	result	NOUN
fbem-9136	7	27	of	of	ADP
fbem-9136	7	28	previous	previous	ADJ
fbem-9136	7	29	authors	author	NOUN
fbem-9136	7	30	to	to	PART
fbem-9136	7	31	provide	provide	VERB
fbem-9136	7	32	some	some	DET
fbem-9136	7	33	insights	insight	NOUN
fbem-9136	7	34	and	and	CCONJ
fbem-9136	7	35	opinions	opinion	NOUN
fbem-9136	7	36	on	on	ADP
fbem-9136	7	37	these	these	DET
fbem-9136	7	38	issues	issue	NOUN
fbem-9136	7	39	.	.	PUNCT
fbem-9136	8	1	2	2	X
fbem-9136	8	2	.	.	X
fbem-9136	8	3	special	special	ADJ
fbem-9136	8	4	characteristics	characteristic	NOUN
fbem-9136	8	5	of	of	ADP
fbem-9136	8	6	the	the	DET
fbem-9136	8	7	valuation	valuation	NOUN
fbem-9136	8	8	of	of	ADP
fbem-9136	8	9	the	the	DET
fbem-9136	8	10	transfer	transfer	NOUN
fbem-9136	8	11	value	value	NOUN
fbem-9136	8	12	of	of	ADP
fbem-9136	8	13	road	road	NOUN
fbem-9136	8	14	toll	toll	NOUN
fbem-9136	8	15	rights	right	NOUN
fbem-9136	8	16	it	it	PRON
fbem-9136	8	17	has	have	AUX
fbem-9136	8	18	only	only	ADV
fbem-9136	8	19	been	be	AUX
fbem-9136	8	20	more	more	ADJ
fbem-9136	8	21	than	than	ADP
fbem-9136	8	22	twenty	twenty	NUM
fbem-9136	8	23	years	year	NOUN
fbem-9136	8	24	since	since	SCONJ
fbem-9136	8	25	the	the	DET
fbem-9136	8	26	emergence	emergence	NOUN
fbem-9136	8	27	of	of	ADP
fbem-9136	8	28	toll	toll	NOUN
fbem-9136	8	29	right	right	ADJ
fbem-9136	8	30	transfer	transfer	NOUN
fbem-9136	8	31	activities	activity	NOUN
fbem-9136	8	32	in	in	ADP
fbem-9136	8	33	china	china	PROPN
fbem-9136	8	34	,	,	PUNCT
fbem-9136	8	35	and	and	CCONJ
fbem-9136	8	36	the	the	DET
fbem-9136	8	37	relevant	relevant	ADJ
fbem-9136	8	38	research	research	NOUN
fbem-9136	8	39	is	be	AUX
fbem-9136	8	40	still	still	ADV
fbem-9136	8	41	in	in	ADP
fbem-9136	8	42	its	its	PRON
fbem-9136	8	43	initial	initial	ADJ
fbem-9136	8	44	stage	stage	NOUN
fbem-9136	8	45	.	.	PUNCT
fbem-9136	9	1	during	during	ADP
fbem-9136	9	2	this	this	DET
fbem-9136	9	3	period	period	NOUN
fbem-9136	9	4	,	,	PUNCT
fbem-9136	9	5	china	china	PROPN
fbem-9136	9	6	has	have	AUX
fbem-9136	9	7	successively	successively	ADV
fbem-9136	9	8	promulgated	promulgate	VERB
fbem-9136	9	9	the	the	DET
fbem-9136	9	10	measures	measure	NOUN
fbem-9136	9	11	for	for	ADP
fbem-9136	9	12	the	the	DET
fbem-9136	9	13	administration	administration	NOUN
fbem-9136	9	14	of	of	ADP
fbem-9136	9	15	paid	pay	VERB
fbem-9136	9	16	transfer	transfer	NOUN
fbem-9136	9	17	of	of	ADP
fbem-9136	9	18	highway	highway	NOUN
fbem-9136	9	19	operation	operation	NOUN
fbem-9136	9	20	rights	right	NOUN
fbem-9136	9	21	(	(	PUNCT
fbem-9136	9	22	ministry	ministry	NOUN
fbem-9136	9	23	of	of	ADP
fbem-9136	9	24	communications	communication	NOUN
fbem-9136	9	25	decree	decree	NOUN
fbem-9136	9	26	no	no	INTJ
fbem-9136	9	27	.	.	NOUN
fbem-9136	9	28	9	9	NUM
fbem-9136	9	29	(	(	PUNCT
fbem-9136	9	30	repealed	repeal	VERB
fbem-9136	9	31	)	)	PUNCT
fbem-9136	9	32	)	)	PUNCT
fbem-9136	9	33	,	,	PUNCT
fbem-9136	9	34	the	the	DET
fbem-9136	9	35	highway	highway	NOUN
fbem-9136	9	36	law	law	NOUN
fbem-9136	9	37	of	of	ADP
fbem-9136	9	38	the	the	DET
fbem-9136	9	39	people	people	NOUN
fbem-9136	9	40	's	's	PART
fbem-9136	9	41	republic	republic	NOUN
fbem-9136	9	42	of	of	ADP
fbem-9136	9	43	china	china	PROPN
fbem-9136	9	44	(	(	PUNCT
fbem-9136	9	45	president	president	NOUN
fbem-9136	9	46	's	's	PART
fbem-9136	9	47	decree	decree	NOUN
fbem-9136	10	1	[	[	X
fbem-9136	10	2	2004	2004	NUM
fbem-9136	10	3	]	]	X
fbem-9136	10	4	no	no	INTJ
fbem-9136	10	5	.	.	NOUN
fbem-9136	10	6	19	19	NUM
fbem-9136	10	7	)	)	PUNCT
fbem-9136	10	8	and	and	CCONJ
fbem-9136	10	9	the	the	DET
fbem-9136	10	10	measures	measure	NOUN
fbem-9136	10	11	for	for	ADP
fbem-9136	10	12	the	the	DET
fbem-9136	10	13	transfer	transfer	NOUN
fbem-9136	10	14	of	of	ADP
fbem-9136	10	15	interests	interest	NOUN
fbem-9136	10	16	in	in	ADP
fbem-9136	10	17	toll	toll	NOUN
fbem-9136	10	18	roads	road	NOUN
fbem-9136	10	19	(	(	PUNCT
fbem-9136	10	20	[	[	X
fbem-9136	10	21	2008	2008	NUM
fbem-9136	10	22	]	]	X
fbem-9136	10	23	no	no	INTJ
fbem-9136	10	24	.	.	NOUN
fbem-9136	10	25	11	11	NUM
fbem-9136	10	26	)	)	PUNCT
fbem-9136	10	27	to	to	PART
fbem-9136	10	28	regulate	regulate	VERB
fbem-9136	10	29	the	the	DET
fbem-9136	10	30	act	act	NOUN
fbem-9136	10	31	of	of	ADP
fbem-9136	10	32	transferring	transfer	VERB
fbem-9136	10	33	interests	interest	NOUN
fbem-9136	10	34	in	in	ADP
fbem-9136	10	35	toll	toll	NOUN
fbem-9136	10	36	roads	road	NOUN
fbem-9136	10	37	,	,	PUNCT
fbem-9136	10	38	which	which	PRON
fbem-9136	10	39	to	to	ADP
fbem-9136	10	40	a	a	DET
fbem-9136	10	41	certain	certain	ADJ
fbem-9136	10	42	extent	extent	NOUN
fbem-9136	10	43	protects	protect	VERB
fbem-9136	10	44	the	the	DET
fbem-9136	10	45	interests	interest	NOUN
fbem-9136	10	46	of	of	ADP
fbem-9136	10	47	both	both	DET
fbem-9136	10	48	parties	party	NOUN
fbem-9136	10	49	to	to	ADP
fbem-9136	10	50	the	the	DET
fbem-9136	10	51	transfer	transfer	NOUN
fbem-9136	10	52	of	of	ADP
fbem-9136	10	53	interests	interest	NOUN
fbem-9136	10	54	.	.	PUNCT
fbem-9136	11	1	however	however	ADV
fbem-9136	11	2	,	,	PUNCT
fbem-9136	11	3	these	these	DET
fbem-9136	11	4	laws	law	NOUN
fbem-9136	11	5	and	and	CCONJ
fbem-9136	11	6	regulations	regulation	NOUN
fbem-9136	11	7	only	only	ADV
fbem-9136	11	8	provide	provide	VERB
fbem-9136	11	9	for	for	ADP
fbem-9136	11	10	the	the	DET
fbem-9136	11	11	transfer	transfer	NOUN
fbem-9136	11	12	of	of	ADP
fbem-9136	11	13	highway	highway	NOUN
fbem-9136	11	14	toll	toll	NOUN
fbem-9136	11	15	rights	right	NOUN
fbem-9136	11	16	in	in	ADP
fbem-9136	11	17	a	a	DET
fbem-9136	11	18	suggestive	suggestive	ADJ
fbem-9136	11	19	manner	manner	NOUN
fbem-9136	11	20	and	and	CCONJ
fbem-9136	11	21	the	the	DET
fbem-9136	11	22	valuation	valuation	NOUN
fbem-9136	11	23	methods	method	NOUN
fbem-9136	11	24	to	to	PART
fbem-9136	11	25	be	be	AUX
fbem-9136	11	26	chosen	choose	VERB
fbem-9136	11	27	,	,	PUNCT
fbem-9136	11	28	but	but	CCONJ
fbem-9136	11	29	do	do	AUX
fbem-9136	11	30	not	not	PART
fbem-9136	11	31	provide	provide	VERB
fbem-9136	11	32	for	for	ADP
fbem-9136	11	33	specific	specific	ADJ
fbem-9136	11	34	matters	matter	NOUN
fbem-9136	11	35	.	.	PUNCT
fbem-9136	12	1	as	as	ADP
fbem-9136	12	2	a	a	DET
fbem-9136	12	3	result	result	NOUN
fbem-9136	12	4	,	,	PUNCT
fbem-9136	12	5	in	in	ADP
fbem-9136	12	6	the	the	DET
fbem-9136	12	7	actual	actual	ADJ
fbem-9136	12	8	valuation	valuation	NOUN
fbem-9136	12	9	process	process	NOUN
fbem-9136	12	10	,	,	PUNCT
fbem-9136	12	11	appraisers	appraiser	NOUN
fbem-9136	12	12	often	often	ADV
fbem-9136	12	13	lack	lack	VERB
fbem-9136	12	14	expertise	expertise	NOUN
fbem-9136	12	15	in	in	ADP
fbem-9136	12	16	the	the	DET
fbem-9136	12	17	transfer	transfer	NOUN
fbem-9136	12	18	of	of	ADP
fbem-9136	12	19	highway	highway	NOUN
fbem-9136	12	20	toll	toll	NOUN
fbem-9136	12	21	rights	right	NOUN
fbem-9136	12	22	,	,	PUNCT
fbem-9136	12	23	which	which	PRON
fbem-9136	12	24	makes	make	VERB
fbem-9136	12	25	the	the	DET
fbem-9136	12	26	valuation	valuation	NOUN
fbem-9136	12	27	of	of	ADP
fbem-9136	12	28	highway	highway	NOUN
fbem-9136	12	29	toll	toll	NOUN
fbem-9136	12	30	rights	right	NOUN
fbem-9136	12	31	deviate	deviate	VERB
fbem-9136	12	32	significantly	significantly	ADV
fbem-9136	12	33	.	.	PUNCT
fbem-9136	13	1	in	in	ADP
fbem-9136	13	2	the	the	DET
fbem-9136	13	3	author	author	NOUN
fbem-9136	13	4	's	's	PART
fbem-9136	13	5	view	view	NOUN
fbem-9136	13	6	,	,	PUNCT
fbem-9136	13	7	compared	compare	VERB
fbem-9136	13	8	to	to	ADP
fbem-9136	13	9	general	general	ADJ
fbem-9136	13	10	intangible	intangible	ADJ
fbem-9136	13	11	assets	asset	NOUN
fbem-9136	13	12	,	,	PUNCT
fbem-9136	13	13	the	the	DET
fbem-9136	13	14	valuation	valuation	NOUN
fbem-9136	13	15	of	of	ADP
fbem-9136	13	16	road	road	NOUN
fbem-9136	13	17	toll	toll	NOUN
fbem-9136	13	18	rights	right	NOUN
fbem-9136	13	19	has	have	VERB
fbem-9136	13	20	certain	certain	ADJ
fbem-9136	13	21	special	special	ADJ
fbem-9136	13	22	characteristics	characteristic	NOUN
fbem-9136	13	23	and	and	CCONJ
fbem-9136	13	24	the	the	DET
fbem-9136	13	25	valuation	valuation	NOUN
fbem-9136	13	26	methods	method	NOUN
fbem-9136	13	27	chosen	choose	VERB
fbem-9136	13	28	should	should	AUX
fbem-9136	13	29	be	be	AUX
fbem-9136	13	30	different	different	ADJ
fbem-9136	13	31	.	.	PUNCT
fbem-9136	14	1	there	there	PRON
fbem-9136	14	2	is	be	VERB
fbem-9136	14	3	almost	almost	ADV
fbem-9136	14	4	no	no	PRON
fbem-9136	14	5	correspondence	correspondence	NOUN
fbem-9136	14	6	between	between	ADP
fbem-9136	14	7	the	the	DET
fbem-9136	14	8	value	value	NOUN
fbem-9136	14	9	of	of	ADP
fbem-9136	14	10	general	general	ADJ
fbem-9136	14	11	intangible	intangible	ADJ
fbem-9136	14	12	assets	asset	NOUN
fbem-9136	14	13	and	and	CCONJ
fbem-9136	14	14	their	their	PRON
fbem-9136	14	15	actual	actual	ADJ
fbem-9136	14	16	cost	cost	NOUN
fbem-9136	14	17	,	,	PUNCT
fbem-9136	14	18	while	while	SCONJ
fbem-9136	14	19	the	the	DET
fbem-9136	14	20	road	road	NOUN
fbem-9136	14	21	toll	toll	NOUN
fbem-9136	14	22	right	right	ADV
fbem-9136	14	23	is	be	AUX
fbem-9136	14	24	a	a	DET
fbem-9136	14	25	special	special	ADJ
fbem-9136	14	26	intangible	intangible	ADJ
fbem-9136	14	27	asset	asset	NOUN
fbem-9136	14	28	relying	rely	VERB
fbem-9136	14	29	on	on	ADP
fbem-9136	14	30	the	the	DET
fbem-9136	14	31	physical	physical	ADJ
fbem-9136	14	32	assets	asset	NOUN
fbem-9136	14	33	of	of	ADP
fbem-9136	14	34	the	the	DET
fbem-9136	14	35	road	road	NOUN
fbem-9136	14	36	,	,	PUNCT
fbem-9136	14	37	and	and	CCONJ
fbem-9136	14	38	its	its	PRON
fbem-9136	14	39	profitability	profitability	NOUN
fbem-9136	14	40	is	be	AUX
fbem-9136	14	41	closely	closely	ADV
fbem-9136	14	42	related	relate	VERB
fbem-9136	14	43	to	to	ADP
fbem-9136	14	44	the	the	DET
fbem-9136	14	45	geographical	geographical	ADJ
fbem-9136	14	46	conditions	condition	NOUN
fbem-9136	14	47	and	and	CCONJ
fbem-9136	14	48	technical	technical	ADJ
fbem-9136	14	49	level	level	NOUN
fbem-9136	14	50	of	of	ADP
fbem-9136	14	51	the	the	DET
fbem-9136	14	52	physical	physical	ADJ
fbem-9136	14	53	assets	asset	NOUN
fbem-9136	14	54	of	of	ADP
fbem-9136	14	55	the	the	DET
fbem-9136	14	56	road	road	NOUN
fbem-9136	14	57	.	.	PUNCT
fbem-9136	15	1	in	in	ADP
fbem-9136	15	2	addition	addition	NOUN
fbem-9136	15	3	,	,	PUNCT
fbem-9136	15	4	the	the	DET
fbem-9136	15	5	transfer	transfer	NOUN
fbem-9136	15	6	of	of	ADP
fbem-9136	15	7	toll	toll	NOUN
fbem-9136	15	8	rights	right	NOUN
fbem-9136	15	9	and	and	CCONJ
fbem-9136	15	10	toll	toll	NOUN
fbem-9136	15	11	rates	rate	NOUN
fbem-9136	15	12	are	be	AUX
fbem-9136	15	13	subject	subject	ADJ
fbem-9136	15	14	to	to	ADP
fbem-9136	15	15	the	the	DET
fbem-9136	15	16	review	review	NOUN
fbem-9136	15	17	and	and	CCONJ
fbem-9136	15	18	approval	approval	NOUN
fbem-9136	15	19	of	of	ADP
fbem-9136	15	20	relevant	relevant	ADJ
fbem-9136	15	21	government	government	NOUN
fbem-9136	15	22	departments	department	NOUN
fbem-9136	15	23	,	,	PUNCT
fbem-9136	15	24	and	and	CCONJ
fbem-9136	15	25	operating	operating	NOUN
fbem-9136	15	26	enterprises	enterprise	NOUN
fbem-9136	15	27	do	do	AUX
fbem-9136	15	28	not	not	PART
fbem-9136	15	29	have	have	VERB
fbem-9136	15	30	the	the	DET
fbem-9136	15	31	right	right	NOUN
fbem-9136	15	32	to	to	PART
fbem-9136	15	33	decide	decide	VERB
fbem-9136	15	34	on	on	ADP
fbem-9136	15	35	their	their	PRON
fbem-9136	15	36	own	own	ADJ
fbem-9136	15	37	;	;	PUNCT
fbem-9136	15	38	at	at	ADP
fbem-9136	15	39	the	the	DET
fbem-9136	15	40	same	same	ADJ
fbem-9136	15	41	time	time	NOUN
fbem-9136	15	42	,	,	PUNCT
fbem-9136	15	43	the	the	DET
fbem-9136	15	44	state	state	NOUN
fbem-9136	15	45	has	have	AUX
fbem-9136	15	46	also	also	ADV
fbem-9136	15	47	stipulated	stipulate	VERB
fbem-9136	15	48	the	the	DET
fbem-9136	15	49	transfer	transfer	NOUN
fbem-9136	15	50	period	period	NOUN
fbem-9136	15	51	,	,	PUNCT
fbem-9136	15	52	and	and	CCONJ
fbem-9136	15	53	the	the	DET
fbem-9136	15	54	value	value	NOUN
fbem-9136	15	55	assessment	assessment	NOUN
fbem-9136	15	56	can	can	AUX
fbem-9136	15	57	only	only	ADV
fbem-9136	15	58	be	be	AUX
fbem-9136	15	59	carried	carry	VERB
fbem-9136	15	60	out	out	ADP
fbem-9136	15	61	within	within	ADP
fbem-9136	15	62	a	a	DET
fbem-9136	15	63	certain	certain	ADJ
fbem-9136	15	64	period	period	NOUN
fbem-9136	15	65	of	of	ADP
fbem-9136	15	66	time	time	NOUN
fbem-9136	15	67	.	.	PUNCT
fbem-9136	16	1	these	these	DET
fbem-9136	16	2	special	special	ADJ
fbem-9136	16	3	regulations	regulation	NOUN
fbem-9136	16	4	in	in	ADP
fbem-9136	16	5	respect	respect	NOUN
fbem-9136	16	6	of	of	ADP
fbem-9136	16	7	road	road	NOUN
fbem-9136	16	8	assets	asset	NOUN
fbem-9136	16	9	have	have	AUX
fbem-9136	16	10	resulted	result	VERB
fbem-9136	16	11	in	in	ADP
fbem-9136	16	12	a	a	DET
fbem-9136	16	13	wide	wide	ADJ
fbem-9136	16	14	variability	variability	NOUN
fbem-9136	16	15	in	in	ADP
fbem-9136	16	16	the	the	DET
fbem-9136	16	17	appraised	appraise	VERB
fbem-9136	16	18	value	value	NOUN
fbem-9136	16	19	.	.	PUNCT
fbem-9136	17	1	in	in	ADP
fbem-9136	17	2	general	general	ADJ
fbem-9136	17	3	,	,	PUNCT
fbem-9136	17	4	one	one	NUM
fbem-9136	17	5	or	or	CCONJ
fbem-9136	17	6	more	more	ADJ
fbem-9136	17	7	of	of	ADP
fbem-9136	17	8	the	the	DET
fbem-9136	17	9	income	income	NOUN
fbem-9136	17	10	method	method	NOUN
fbem-9136	17	11	,	,	PUNCT
fbem-9136	17	12	cost	cost	NOUN
fbem-9136	17	13	method	method	NOUN
fbem-9136	17	14	and	and	CCONJ
fbem-9136	17	15	market	market	NOUN
fbem-9136	17	16	method	method	NOUN
fbem-9136	17	17	can	can	AUX
fbem-9136	17	18	be	be	AUX
fbem-9136	17	19	used	use	VERB
fbem-9136	17	20	in	in	ADP
fbem-9136	17	21	the	the	DET
fbem-9136	17	22	valuation	valuation	NOUN
fbem-9136	17	23	of	of	ADP
fbem-9136	17	24	intangible	intangible	ADJ
fbem-9136	17	25	assets	asset	NOUN
fbem-9136	17	26	,	,	PUNCT
fbem-9136	17	27	while	while	SCONJ
fbem-9136	17	28	in	in	ADP
fbem-9136	17	29	view	view	NOUN
fbem-9136	17	30	of	of	ADP
fbem-9136	17	31	the	the	DET
fbem-9136	17	32	special	special	ADJ
fbem-9136	17	33	nature	nature	NOUN
fbem-9136	17	34	of	of	ADP
fbem-9136	17	35	the	the	DET
fbem-9136	17	36	valuation	valuation	NOUN
fbem-9136	17	37	of	of	ADP
fbem-9136	17	38	road	road	NOUN
fbem-9136	17	39	toll	toll	NOUN
fbem-9136	17	40	rights	right	NOUN
fbem-9136	17	41	,	,	PUNCT
fbem-9136	17	42	the	the	DET
fbem-9136	17	43	national	national	ADJ
fbem-9136	17	44	policy	policy	NOUN
fbem-9136	17	45	on	on	ADP
fbem-9136	17	46	the	the	DET
fbem-9136	17	47	selection	selection	NOUN
fbem-9136	17	48	of	of	ADP
fbem-9136	17	49	the	the	DET
fbem-9136	17	50	valuation	valuation	NOUN
fbem-9136	17	51	method	method	NOUN
fbem-9136	17	52	of	of	ADP
fbem-9136	17	53	road	road	NOUN
fbem-9136	17	54	toll	toll	NOUN
fbem-9136	17	55	rights	right	NOUN
fbem-9136	17	56	has	have	AUX
fbem-9136	17	57	also	also	ADV
fbem-9136	17	58	undergone	undergo	VERB
fbem-9136	17	59	a	a	DET
fbem-9136	17	60	change	change	NOUN
fbem-9136	17	61	from	from	ADP
fbem-9136	17	62	"	"	PUNCT
fbem-9136	17	63	using	use	VERB
fbem-9136	17	64	a	a	DET
fbem-9136	17	65	combination	combination	NOUN
fbem-9136	17	66	of	of	ADP
fbem-9136	17	67	the	the	DET
fbem-9136	17	68	present	present	ADJ
fbem-9136	17	69	value	value	NOUN
fbem-9136	17	70	of	of	ADP
fbem-9136	17	71	income	income	NOUN
fbem-9136	17	72	and	and	CCONJ
fbem-9136	17	73	replacement	replacement	NOUN
fbem-9136	17	74	cost	cost	NOUN
fbem-9136	17	75	method	method	NOUN
fbem-9136	17	76	"	"	PUNCT
fbem-9136	17	77	to	to	ADP
fbem-9136	17	78	"	"	PUNCT
fbem-9136	17	79	the	the	DET
fbem-9136	17	80	valuation	valuation	NOUN
fbem-9136	17	81	method	method	NOUN
fbem-9136	17	82	should	should	AUX
fbem-9136	17	83	adopt	adopt	VERB
fbem-9136	17	84	the	the	DET
fbem-9136	17	85	present	present	ADJ
fbem-9136	17	86	value	value	NOUN
fbem-9136	17	87	of	of	ADP
fbem-9136	17	88	income	income	NOUN
fbem-9136	17	89	method	method	NOUN
fbem-9136	17	90	"	"	PUNCT
fbem-9136	17	91	.	.	PUNCT
fbem-9136	18	1	the	the	DET
fbem-9136	18	2	national	national	ADJ
fbem-9136	18	3	policy	policy	NOUN
fbem-9136	18	4	on	on	ADP
fbem-9136	18	5	the	the	DET
fbem-9136	18	6	choice	choice	NOUN
fbem-9136	18	7	of	of	ADP
fbem-9136	18	8	valuation	valuation	NOUN
fbem-9136	18	9	method	method	NOUN
fbem-9136	18	10	for	for	ADP
fbem-9136	18	11	road	road	NOUN
fbem-9136	18	12	toll	toll	NOUN
fbem-9136	18	13	rights	right	NOUN
fbem-9136	18	14	has	have	AUX
fbem-9136	18	15	also	also	ADV
fbem-9136	18	16	undergone	undergo	VERB
fbem-9136	18	17	a	a	DET
fbem-9136	18	18	change	change	NOUN
fbem-9136	18	19	from	from	ADP
fbem-9136	18	20	"	"	PUNCT
fbem-9136	18	21	adopting	adopt	VERB
fbem-9136	18	22	a	a	DET
fbem-9136	18	23	combination	combination	NOUN
fbem-9136	18	24	of	of	ADP
fbem-9136	18	25	the	the	DET
fbem-9136	18	26	present	present	ADJ
fbem-9136	18	27	value	value	NOUN
fbem-9136	18	28	of	of	ADP
fbem-9136	18	29	revenue	revenue	NOUN
fbem-9136	18	30	and	and	CCONJ
fbem-9136	18	31	replacement	replacement	NOUN
fbem-9136	18	32	cost	cost	NOUN
fbem-9136	18	33	methods	method	NOUN
fbem-9136	18	34	"	"	PUNCT
fbem-9136	18	35	to	to	ADP
fbem-9136	18	36	"	"	PUNCT
fbem-9136	18	37	the	the	DET
fbem-9136	18	38	valuation	valuation	NOUN
fbem-9136	18	39	method	method	NOUN
fbem-9136	18	40	shall	shall	AUX
fbem-9136	18	41	adopt	adopt	VERB
fbem-9136	18	42	the	the	DET
fbem-9136	18	43	present	present	ADJ
fbem-9136	18	44	value	value	NOUN
fbem-9136	18	45	of	of	ADP
fbem-9136	18	46	revenue	revenue	NOUN
fbem-9136	18	47	method	method	NOUN
fbem-9136	18	48	"	"	PUNCT
fbem-9136	18	49	.	.	PUNCT
fbem-9136	19	1	the	the	DET
fbem-9136	19	2	state	state	NOUN
fbem-9136	19	3	stipulates	stipulate	VERB
fbem-9136	19	4	that	that	SCONJ
fbem-9136	19	5	only	only	ADV
fbem-9136	19	6	the	the	DET
fbem-9136	19	7	present	present	ADJ
fbem-9136	19	8	value	value	NOUN
fbem-9136	19	9	of	of	ADP
fbem-9136	19	10	revenue	revenue	NOUN
fbem-9136	19	11	method	method	NOUN
fbem-9136	19	12	can	can	AUX
fbem-9136	19	13	be	be	AUX
fbem-9136	19	14	used	use	VERB
fbem-9136	19	15	for	for	ADP
fbem-9136	19	16	the	the	DET
fbem-9136	19	17	valuation	valuation	NOUN
fbem-9136	19	18	of	of	ADP
fbem-9136	19	19	road	road	NOUN
fbem-9136	19	20	toll	toll	NOUN
fbem-9136	19	21	rights	right	NOUN
fbem-9136	19	22	,	,	PUNCT
fbem-9136	19	23	which	which	PRON
fbem-9136	19	24	has	have	VERB
fbem-9136	19	25	its	its	PRON
fbem-9136	19	26	theoretical	theoretical	ADJ
fbem-9136	19	27	basis	basis	NOUN
fbem-9136	19	28	.	.	PUNCT
fbem-9136	20	1	it	it	PRON
fbem-9136	20	2	is	be	AUX
fbem-9136	20	3	known	know	VERB
fbem-9136	20	4	from	from	ADP
fbem-9136	20	5	previous	previous	ADJ
fbem-9136	20	6	studies	study	NOUN
fbem-9136	20	7	that	that	SCONJ
fbem-9136	20	8	the	the	DET
fbem-9136	20	9	object	object	NOUN
fbem-9136	20	10	of	of	ADP
fbem-9136	20	11	valuation	valuation	NOUN
fbem-9136	20	12	of	of	ADP
fbem-9136	20	13	road	road	NOUN
fbem-9136	20	14	assets	asset	NOUN
fbem-9136	20	15	is	be	AUX
fbem-9136	20	16	the	the	DET
fbem-9136	20	17	road	road	NOUN
fbem-9136	20	18	toll	toll	NOUN
fbem-9136	20	19	rights	right	NOUN
fbem-9136	20	20	rather	rather	ADV
fbem-9136	20	21	than	than	ADP
fbem-9136	20	22	the	the	DET
fbem-9136	20	23	road	road	NOUN
fbem-9136	20	24	physical	physical	ADJ
fbem-9136	20	25	assets	asset	NOUN
fbem-9136	20	26	themselves	themselves	PRON
fbem-9136	20	27	.	.	PUNCT
fbem-9136	21	1	the	the	DET
fbem-9136	21	2	main	main	ADJ
fbem-9136	21	3	purpose	purpose	NOUN
fbem-9136	21	4	of	of	ADP
fbem-9136	21	5	valuation	valuation	NOUN
fbem-9136	21	6	is	be	AUX
fbem-9136	21	7	to	to	PART
fbem-9136	21	8	determine	determine	VERB
fbem-9136	21	9	the	the	DET
fbem-9136	21	10	future	future	ADJ
fbem-9136	21	11	profitability	profitability	NOUN
fbem-9136	21	12	of	of	ADP
fbem-9136	21	13	the	the	DET
fbem-9136	21	14	toll	toll	NOUN
fbem-9136	21	15	rights	right	NOUN
fbem-9136	21	16	and	and	CCONJ
fbem-9136	21	17	the	the	DET
fbem-9136	21	18	evaluation	evaluation	NOUN
fbem-9136	21	19	criterion	criterion	NOUN
fbem-9136	21	20	is	be	AUX
fbem-9136	21	21	the	the	DET
fbem-9136	21	22	present	present	ADJ
fbem-9136	21	23	value	value	NOUN
fbem-9136	21	24	of	of	ADP
fbem-9136	21	25	expected	expect	VERB
fbem-9136	21	26	future	future	ADJ
fbem-9136	21	27	earnings	earning	NOUN
fbem-9136	21	28	.	.	PUNCT
fbem-9136	22	1	according	accord	VERB
fbem-9136	22	2	to	to	ADP
fbem-9136	22	3	asset	asset	NOUN
fbem-9136	22	4	valuation	valuation	NOUN
fbem-9136	22	5	theory	theory	NOUN
fbem-9136	22	6	,	,	PUNCT
fbem-9136	22	7	the	the	DET
fbem-9136	22	8	choice	choice	NOUN
fbem-9136	22	9	of	of	ADP
fbem-9136	22	10	valuation	valuation	NOUN
fbem-9136	22	11	method	method	NOUN
fbem-9136	22	12	depends	depend	VERB
fbem-9136	22	13	on	on	ADP
fbem-9136	22	14	the	the	DET
fbem-9136	22	15	valuation	valuation	NOUN
fbem-9136	22	16	object	object	NOUN
fbem-9136	22	17	and	and	CCONJ
fbem-9136	22	18	the	the	DET
fbem-9136	22	19	valuation	valuation	NOUN
fbem-9136	22	20	purpose	purpose	NOUN
fbem-9136	22	21	.	.	PUNCT
fbem-9136	23	1	the	the	DET
fbem-9136	23	2	present	present	ADJ
fbem-9136	23	3	value	value	NOUN
fbem-9136	23	4	of	of	ADP
fbem-9136	23	5	earnings	earning	NOUN
fbem-9136	23	6	method	method	NOUN
fbem-9136	23	7	is	be	AUX
fbem-9136	23	8	precisely	precisely	ADV
fbem-9136	23	9	to	to	PART
fbem-9136	23	10	estimate	estimate	VERB
fbem-9136	23	11	the	the	DET
fbem-9136	23	12	value	value	NOUN
fbem-9136	23	13	of	of	ADP
fbem-9136	23	14	intangible	intangible	ADJ
fbem-9136	23	15	assets	asset	NOUN
fbem-9136	23	16	by	by	ADP
fbem-9136	23	17	discounting	discount	VERB
fbem-9136	23	18	the	the	DET
fbem-9136	23	19	excess	excess	ADJ
fbem-9136	23	20	earnings	earning	NOUN
fbem-9136	23	21	that	that	PRON
fbem-9136	23	22	the	the	DET
fbem-9136	23	23	intangible	intangible	ADJ
fbem-9136	23	24	asset	asset	NOUN
fbem-9136	23	25	will	will	AUX
fbem-9136	23	26	bring	bring	VERB
fbem-9136	23	27	to	to	ADP
fbem-9136	23	28	its	its	PRON
fbem-9136	23	29	investors	investor	NOUN
fbem-9136	23	30	within	within	ADP
fbem-9136	23	31	a	a	DET
fbem-9136	23	32	certain	certain	ADJ
fbem-9136	23	33	period	period	NOUN
fbem-9136	23	34	of	of	ADP
fbem-9136	23	35	time	time	NOUN
fbem-9136	23	36	.	.	PUNCT
fbem-9136	24	1	in	in	ADP
fbem-9136	24	2	other	other	ADJ
fbem-9136	24	3	words	word	NOUN
fbem-9136	24	4	,	,	PUNCT
fbem-9136	24	5	when	when	SCONJ
fbem-9136	24	6	the	the	DET
fbem-9136	24	7	road	road	NOUN
fbem-9136	24	8	toll	toll	NOUN
fbem-9136	24	9	right	right	ADV
fbem-9136	24	10	is	be	AUX
fbem-9136	24	11	109	109	NUM
fbem-9136	24	12	transferred	transfer	VERB
fbem-9136	24	13	,	,	PUNCT
fbem-9136	24	14	the	the	DET
fbem-9136	24	15	transferee	transferee	NOUN
fbem-9136	24	16	is	be	AUX
fbem-9136	24	17	more	more	ADV
fbem-9136	24	18	concerned	concerned	ADJ
fbem-9136	24	19	with	with	ADP
fbem-9136	24	20	the	the	DET
fbem-9136	24	21	profitability	profitability	NOUN
fbem-9136	24	22	of	of	ADP
fbem-9136	24	23	the	the	DET
fbem-9136	24	24	toll	toll	NOUN
fbem-9136	24	25	operating	operate	VERB
fbem-9136	24	26	right	right	NOUN
fbem-9136	24	27	,	,	PUNCT
fbem-9136	24	28	not	not	PART
fbem-9136	24	29	the	the	DET
fbem-9136	24	30	actual	actual	ADJ
fbem-9136	24	31	cost	cost	NOUN
fbem-9136	24	32	of	of	ADP
fbem-9136	24	33	the	the	DET
fbem-9136	24	34	physical	physical	ADJ
fbem-9136	24	35	assets	asset	NOUN
fbem-9136	24	36	consumed	consume	VERB
fbem-9136	24	37	by	by	ADP
fbem-9136	24	38	the	the	DET
fbem-9136	24	39	road	road	NOUN
fbem-9136	24	40	;	;	PUNCT
fbem-9136	24	41	the	the	DET
fbem-9136	24	42	road	road	NOUN
fbem-9136	24	43	toll	toll	NOUN
fbem-9136	24	44	right	right	ADV
fbem-9136	24	45	can	can	AUX
fbem-9136	24	46	bring	bring	VERB
fbem-9136	24	47	revenue	revenue	NOUN
fbem-9136	24	48	to	to	ADP
fbem-9136	24	49	the	the	DET
fbem-9136	24	50	transferee	transferee	NOUN
fbem-9136	24	51	after	after	ADP
fbem-9136	24	52	the	the	DET
fbem-9136	24	53	transfer	transfer	NOUN
fbem-9136	24	54	,	,	PUNCT
fbem-9136	24	55	and	and	CCONJ
fbem-9136	24	56	the	the	DET
fbem-9136	24	57	transferee	transferee	NOUN
fbem-9136	24	58	pays	pay	VERB
fbem-9136	24	59	no	no	DET
fbem-9136	24	60	more	more	ADJ
fbem-9136	24	61	than	than	ADP
fbem-9136	24	62	the	the	DET
fbem-9136	24	63	discounted	discount	VERB
fbem-9136	24	64	value	value	NOUN
fbem-9136	24	65	of	of	ADP
fbem-9136	24	66	the	the	DET
fbem-9136	24	67	expected	expect	VERB
fbem-9136	24	68	revenue	revenue	NOUN
fbem-9136	24	69	that	that	SCONJ
fbem-9136	24	70	the	the	DET
fbem-9136	24	71	road	road	NOUN
fbem-9136	24	72	toll	toll	NOUN
fbem-9136	24	73	right	right	ADV
fbem-9136	24	74	can	can	AUX
fbem-9136	24	75	bring	bring	VERB
fbem-9136	24	76	to	to	ADP
fbem-9136	24	77	it	it	PRON
fbem-9136	24	78	.	.	PUNCT
fbem-9136	25	1	therefore	therefore	ADV
fbem-9136	25	2	,	,	PUNCT
fbem-9136	25	3	the	the	DET
fbem-9136	25	4	use	use	NOUN
fbem-9136	25	5	of	of	ADP
fbem-9136	25	6	the	the	DET
fbem-9136	25	7	present	present	ADJ
fbem-9136	25	8	value	value	NOUN
fbem-9136	25	9	of	of	ADP
fbem-9136	25	10	revenue	revenue	NOUN
fbem-9136	25	11	method	method	NOUN
fbem-9136	25	12	to	to	PART
fbem-9136	25	13	assess	assess	VERB
fbem-9136	25	14	the	the	DET
fbem-9136	25	15	value	value	NOUN
fbem-9136	25	16	of	of	ADP
fbem-9136	25	17	the	the	DET
fbem-9136	25	18	transfer	transfer	NOUN
fbem-9136	25	19	of	of	ADP
fbem-9136	25	20	highway	highway	NOUN
fbem-9136	25	21	toll	toll	NOUN
fbem-9136	25	22	rights	right	NOUN
fbem-9136	25	23	,	,	PUNCT
fbem-9136	25	24	the	the	DET
fbem-9136	25	25	assessment	assessment	NOUN
fbem-9136	25	26	results	result	NOUN
fbem-9136	25	27	are	be	AUX
fbem-9136	25	28	more	more	ADV
fbem-9136	25	29	easily	easily	ADV
fbem-9136	25	30	accepted	accept	VERB
fbem-9136	25	31	by	by	ADP
fbem-9136	25	32	both	both	DET
fbem-9136	25	33	parties	party	NOUN
fbem-9136	25	34	to	to	ADP
fbem-9136	25	35	the	the	DET
fbem-9136	25	36	transfer	transfer	NOUN
fbem-9136	25	37	,	,	PUNCT
fbem-9136	25	38	is	be	AUX
fbem-9136	25	39	the	the	DET
fbem-9136	25	40	most	most	ADV
fbem-9136	25	41	preferred	preferred	ADJ
fbem-9136	25	42	method	method	NOUN
fbem-9136	25	43	of	of	ADP
fbem-9136	25	44	assessing	assess	VERB
fbem-9136	25	45	the	the	DET
fbem-9136	25	46	value	value	NOUN
fbem-9136	25	47	of	of	ADP
fbem-9136	25	48	toll	toll	NOUN
fbem-9136	25	49	rights	right	NOUN
fbem-9136	25	50	.	.	PUNCT
fbem-9136	26	1	this	this	PRON
fbem-9136	26	2	is	be	AUX
fbem-9136	26	3	also	also	ADV
fbem-9136	26	4	in	in	ADP
fbem-9136	26	5	line	line	NOUN
fbem-9136	26	6	with	with	ADP
fbem-9136	26	7	the	the	DET
fbem-9136	26	8	policy	policy	NOUN
fbem-9136	26	9	spirit	spirit	NOUN
fbem-9136	26	10	of	of	ADP
fbem-9136	26	11	the	the	DET
fbem-9136	26	12	measures	measure	NOUN
fbem-9136	26	13	for	for	ADP
fbem-9136	26	14	the	the	DET
fbem-9136	26	15	transfer	transfer	NOUN
fbem-9136	26	16	of	of	ADP
fbem-9136	26	17	toll	toll	NOUN
fbem-9136	26	18	road	road	NOUN
fbem-9136	26	19	interests	interest	NOUN
fbem-9136	26	20	issued	issue	VERB
fbem-9136	26	21	by	by	ADP
fbem-9136	26	22	the	the	DET
fbem-9136	26	23	ministry	ministry	PROPN
fbem-9136	26	24	of	of	ADP
fbem-9136	26	25	communications	communication	NOUN
fbem-9136	26	26	and	and	CCONJ
fbem-9136	26	27	the	the	DET
fbem-9136	26	28	ministry	ministry	PROPN
fbem-9136	26	29	of	of	ADP
fbem-9136	26	30	finance	finance	PROPN
fbem-9136	26	31	.	.	PUNCT
fbem-9136	27	1	3	3	X
fbem-9136	27	2	.	.	X
fbem-9136	27	3	analysis	analysis	NOUN
fbem-9136	27	4	of	of	ADP
fbem-9136	27	5	the	the	DET
fbem-9136	27	6	valuation	valuation	NOUN
fbem-9136	27	7	model	model	NOUN
fbem-9136	27	8	for	for	ADP
fbem-9136	27	9	the	the	DET
fbem-9136	27	10	present	present	ADJ
fbem-9136	27	11	value	value	NOUN
fbem-9136	27	12	of	of	ADP
fbem-9136	27	13	earnings	earning	NOUN
fbem-9136	27	14	method	method	NOUN
fbem-9136	27	15	the	the	DET
fbem-9136	27	16	basic	basic	ADJ
fbem-9136	27	17	formula	formula	NOUN
fbem-9136	27	18	for	for	ADP
fbem-9136	27	19	the	the	DET
fbem-9136	27	20	valuation	valuation	NOUN
fbem-9136	27	21	of	of	ADP
fbem-9136	27	22	road	road	NOUN
fbem-9136	27	23	toll	toll	NOUN
fbem-9136	27	24	rights	right	NOUN
fbem-9136	27	25	using	use	VERB
fbem-9136	27	26	the	the	DET
fbem-9136	27	27	present	present	ADJ
fbem-9136	27	28	value	value	NOUN
fbem-9136	27	29	of	of	ADP
fbem-9136	27	30	revenues	revenue	NOUN
fbem-9136	27	31	method	method	NOUN
fbem-9136	27	32	is	be	AUX
fbem-9136	27	33	:	:	PUNCT
fbem-9136	27	34	p	p	X
fbem-9136	27	35	a	a	DET
fbem-9136	27	36	1	1	NUM
fbem-9136	27	37	i	i	PRON
fbem-9136	27	38	where	where	SCONJ
fbem-9136	27	39	p	p	NOUN
fbem-9136	27	40	is	be	AUX
fbem-9136	27	41	the	the	DET
fbem-9136	27	42	appraised	appraise	VERB
fbem-9136	27	43	value	value	NOUN
fbem-9136	27	44	of	of	ADP
fbem-9136	27	45	the	the	DET
fbem-9136	27	46	fee	fee	NOUN
fbem-9136	27	47	right	right	NOUN
fbem-9136	27	48	;	;	PUNCT
fbem-9136	27	49	at	at	ADP
fbem-9136	27	50	is	be	AUX
fbem-9136	27	51	the	the	DET
fbem-9136	27	52	expected	expect	VERB
fbem-9136	27	53	return	return	NOUN
fbem-9136	27	54	value	value	NOUN
fbem-9136	27	55	in	in	ADP
fbem-9136	27	56	year	year	NOUN
fbem-9136	27	57	t	t	PROPN
fbem-9136	27	58	,	,	PUNCT
fbem-9136	27	59	i.e.	i.e.	X
fbem-9136	27	60	the	the	DET
fbem-9136	27	61	net	net	ADJ
fbem-9136	27	62	cash	cash	NOUN
fbem-9136	27	63	inflow	inflow	NOUN
fbem-9136	27	64	in	in	ADP
fbem-9136	27	65	year	year	NOUN
fbem-9136	27	66	t	t	PROPN
fbem-9136	27	67	;	;	PUNCT
fbem-9136	27	68	i	i	PRON
fbem-9136	27	69	is	be	AUX
fbem-9136	27	70	the	the	DET
fbem-9136	27	71	financial	financial	ADJ
fbem-9136	27	72	discount	discount	NOUN
fbem-9136	27	73	rate	rate	NOUN
fbem-9136	27	74	;	;	PUNCT
fbem-9136	27	75	and	and	CCONJ
fbem-9136	27	76	t	t	PROPN
fbem-9136	27	77	is	be	AUX
fbem-9136	27	78	the	the	DET
fbem-9136	27	79	term	term	NOUN
fbem-9136	27	80	of	of	ADP
fbem-9136	27	81	the	the	DET
fbem-9136	27	82	fee	fee	NOUN
fbem-9136	27	83	right	right	NOUN
fbem-9136	27	84	transfer	transfer	NOUN
fbem-9136	27	85	(	(	PUNCT
fbem-9136	27	86	in	in	ADP
fbem-9136	27	87	years	year	NOUN
fbem-9136	27	88	)	)	PUNCT
fbem-9136	27	89	.	.	PUNCT
fbem-9136	28	1	this	this	PRON
fbem-9136	28	2	is	be	AUX
fbem-9136	28	3	a	a	DET
fbem-9136	28	4	common	common	ADJ
fbem-9136	28	5	formula	formula	NOUN
fbem-9136	28	6	for	for	ADP
fbem-9136	28	7	valuing	value	VERB
fbem-9136	28	8	assets	asset	NOUN
fbem-9136	28	9	,	,	PUNCT
fbem-9136	28	10	and	and	CCONJ
fbem-9136	28	11	in	in	ADP
fbem-9136	28	12	practice	practice	NOUN
fbem-9136	28	13	,	,	PUNCT
fbem-9136	28	14	it	it	PRON
fbem-9136	28	15	can	can	AUX
fbem-9136	28	16	be	be	AUX
fbem-9136	28	17	distinguished	distinguish	VERB
fbem-9136	28	18	as	as	ADP
fbem-9136	28	19	(	(	PUNCT
fbem-9136	28	20	1	1	X
fbem-9136	28	21	)	)	PUNCT
fbem-9136	28	22	different	different	ADJ
fbem-9136	28	23	returns	return	NOUN
fbem-9136	28	24	in	in	ADP
fbem-9136	28	25	the	the	DET
fbem-9136	28	26	first	first	ADJ
fbem-9136	28	27	few	few	ADJ
fbem-9136	28	28	years	year	NOUN
fbem-9136	28	29	,	,	PUNCT
fbem-9136	28	30	with	with	ADP
fbem-9136	28	31	returns	return	NOUN
fbem-9136	28	32	remaining	remain	VERB
fbem-9136	28	33	the	the	DET
fbem-9136	28	34	same	same	ADJ
fbem-9136	28	35	in	in	ADP
fbem-9136	28	36	subsequent	subsequent	ADJ
fbem-9136	28	37	years	year	NOUN
fbem-9136	28	38	;	;	PUNCT
fbem-9136	28	39	(	(	PUNCT
fbem-9136	28	40	2	2	X
fbem-9136	28	41	)	)	PUNCT
fbem-9136	28	42	increasing	increase	VERB
fbem-9136	28	43	or	or	CCONJ
fbem-9136	28	44	decreasing	decrease	VERB
fbem-9136	28	45	returns	return	NOUN
fbem-9136	28	46	in	in	ADP
fbem-9136	28	47	equal	equal	ADJ
fbem-9136	28	48	steps	step	NOUN
fbem-9136	28	49	in	in	ADP
fbem-9136	28	50	future	future	ADJ
fbem-9136	28	51	benefit	benefit	NOUN
fbem-9136	28	52	years	year	NOUN
fbem-9136	28	53	;	;	PUNCT
fbem-9136	28	54	(	(	PUNCT
fbem-9136	28	55	3	3	X
fbem-9136	28	56	)	)	PUNCT
fbem-9136	28	57	increasing	increase	VERB
fbem-9136	28	58	or	or	CCONJ
fbem-9136	28	59	decreasing	decrease	VERB
fbem-9136	28	60	returns	return	NOUN
fbem-9136	28	61	in	in	ADP
fbem-9136	28	62	equal	equal	ADJ
fbem-9136	28	63	steps	step	NOUN
fbem-9136	28	64	in	in	ADP
fbem-9136	28	65	future	future	ADJ
fbem-9136	28	66	benefit	benefit	NOUN
fbem-9136	28	67	years	year	NOUN
fbem-9136	28	68	,	,	PUNCT
fbem-9136	28	69	and	and	CCONJ
fbem-9136	28	70	many	many	ADJ
fbem-9136	28	71	other	other	ADJ
fbem-9136	28	72	cases	case	NOUN
fbem-9136	28	73	,	,	PUNCT
fbem-9136	28	74	simply	simply	ADV
fbem-9136	28	75	by	by	ADP
fbem-9136	28	76	transforming	transform	VERB
fbem-9136	28	77	on	on	ADP
fbem-9136	28	78	the	the	DET
fbem-9136	28	79	basis	basis	NOUN
fbem-9136	28	80	of	of	ADP
fbem-9136	28	81	the	the	DET
fbem-9136	28	82	common	common	ADJ
fbem-9136	28	83	formula	formula	NOUN
fbem-9136	28	84	.	.	PUNCT
fbem-9136	29	1	specifically	specifically	ADV
fbem-9136	29	2	for	for	ADP
fbem-9136	29	3	the	the	DET
fbem-9136	29	4	valuation	valuation	NOUN
fbem-9136	29	5	of	of	ADP
fbem-9136	29	6	road	road	NOUN
fbem-9136	29	7	toll	toll	NOUN
fbem-9136	29	8	rights	right	NOUN
fbem-9136	29	9	,	,	PUNCT
fbem-9136	29	10	which	which	DET
fbem-9136	29	11	method	method	NOUN
fbem-9136	29	12	should	should	AUX
fbem-9136	29	13	be	be	AUX
fbem-9136	29	14	chosen	choose	VERB
fbem-9136	29	15	?	?	PUNCT
fbem-9136	30	1	the	the	DET
fbem-9136	30	2	author	author	NOUN
fbem-9136	30	3	believes	believe	VERB
fbem-9136	30	4	that	that	SCONJ
fbem-9136	30	5	,	,	PUNCT
fbem-9136	30	6	at	at	ADP
fbem-9136	30	7	present	present	ADJ
fbem-9136	30	8	,	,	PUNCT
fbem-9136	30	9	china	china	PROPN
fbem-9136	30	10	's	's	PART
fbem-9136	30	11	highway	highway	NOUN
fbem-9136	30	12	toll	toll	NOUN
fbem-9136	30	13	right	right	ADJ
fbem-9136	30	14	transfer	transfer	NOUN
fbem-9136	30	15	period	period	NOUN
fbem-9136	30	16	is	be	AUX
fbem-9136	30	17	generally	generally	ADV
fbem-9136	30	18	as	as	ADV
fbem-9136	30	19	long	long	ADJ
fbem-9136	30	20	as	as	ADP
fbem-9136	30	21	20	20	NUM
fbem-9136	30	22	to	to	PART
fbem-9136	30	23	30	30	NUM
fbem-9136	30	24	years	year	NOUN
fbem-9136	30	25	,	,	PUNCT
fbem-9136	30	26	the	the	DET
fbem-9136	30	27	future	future	NOUN
fbem-9136	30	28	of	of	ADP
fbem-9136	30	29	various	various	ADJ
fbem-9136	30	30	factors	factor	NOUN
fbem-9136	30	31	can	can	AUX
fbem-9136	30	32	not	not	PART
fbem-9136	30	33	be	be	AUX
fbem-9136	30	34	determined	determine	VERB
fbem-9136	30	35	,	,	PUNCT
fbem-9136	30	36	to	to	PART
fbem-9136	30	37	accurately	accurately	ADV
fbem-9136	30	38	predict	predict	VERB
fbem-9136	30	39	the	the	DET
fbem-9136	30	40	annual	annual	ADJ
fbem-9136	30	41	revenue	revenue	NOUN
fbem-9136	30	42	value	value	NOUN
fbem-9136	30	43	is	be	AUX
fbem-9136	30	44	impossible	impossible	ADJ
fbem-9136	30	45	,	,	PUNCT
fbem-9136	30	46	therefore	therefore	ADV
fbem-9136	30	47	,	,	PUNCT
fbem-9136	30	48	taking	take	VERB
fbem-9136	30	49	into	into	ADP
fbem-9136	30	50	account	account	NOUN
fbem-9136	30	51	the	the	DET
fbem-9136	30	52	special	special	ADJ
fbem-9136	30	53	nature	nature	NOUN
fbem-9136	30	54	of	of	ADP
fbem-9136	30	55	highway	highway	NOUN
fbem-9136	30	56	right	right	PROPN
fbem-9136	30	57	revenue	revenue	NOUN
fbem-9136	30	58	,	,	PUNCT
fbem-9136	30	59	can	can	AUX
fbem-9136	30	60	use	use	VERB
fbem-9136	30	61	the	the	DET
fbem-9136	30	62	way	way	NOUN
fbem-9136	30	63	of	of	ADP
fbem-9136	30	64	segmentation	segmentation	NOUN
fbem-9136	30	65	for	for	ADP
fbem-9136	30	66	value	value	NOUN
fbem-9136	30	67	assessment	assessment	NOUN
fbem-9136	30	68	.	.	PUNCT
fbem-9136	31	1	generally	generally	ADV
fbem-9136	31	2	speaking	speak	VERB
fbem-9136	31	3	,	,	PUNCT
fbem-9136	31	4	the	the	DET
fbem-9136	31	5	change	change	NOUN
fbem-9136	31	6	in	in	ADP
fbem-9136	31	7	road	road	NOUN
fbem-9136	31	8	traffic	traffic	NOUN
fbem-9136	31	9	flow	flow	NOUN
fbem-9136	31	10	shows	show	VERB
fbem-9136	31	11	a	a	DET
fbem-9136	31	12	certain	certain	ADJ
fbem-9136	31	13	pattern	pattern	NOUN
fbem-9136	31	14	,	,	PUNCT
fbem-9136	31	15	i.e.	i.e.	X
fbem-9136	31	16	the	the	DET
fbem-9136	31	17	traffic	traffic	NOUN
fbem-9136	31	18	flow	flow	NOUN
fbem-9136	31	19	grows	grow	VERB
fbem-9136	31	20	rapidly	rapidly	ADV
fbem-9136	31	21	after	after	SCONJ
fbem-9136	31	22	the	the	DET
fbem-9136	31	23	road	road	NOUN
fbem-9136	31	24	is	be	AUX
fbem-9136	31	25	completed	complete	VERB
fbem-9136	31	26	and	and	CCONJ
fbem-9136	31	27	opened	open	VERB
fbem-9136	31	28	to	to	ADP
fbem-9136	31	29	traffic	traffic	NOUN
fbem-9136	31	30	,	,	PUNCT
fbem-9136	31	31	reaching	reach	VERB
fbem-9136	31	32	the	the	DET
fbem-9136	31	33	design	design	NOUN
fbem-9136	31	34	standard	standard	NOUN
fbem-9136	31	35	in	in	ADP
fbem-9136	31	36	about	about	ADV
fbem-9136	31	37	10	10	NUM
fbem-9136	31	38	years	year	NOUN
fbem-9136	31	39	,	,	PUNCT
fbem-9136	31	40	and	and	CCONJ
fbem-9136	31	41	the	the	DET
fbem-9136	31	42	expected	expect	VERB
fbem-9136	31	43	return	return	NOUN
fbem-9136	31	44	in	in	ADP
fbem-9136	31	45	these	these	DET
fbem-9136	31	46	10	10	NUM
fbem-9136	31	47	years	year	NOUN
fbem-9136	31	48	needs	need	VERB
fbem-9136	31	49	to	to	PART
fbem-9136	31	50	be	be	AUX
fbem-9136	31	51	accurately	accurately	ADV
fbem-9136	31	52	predicted	predict	VERB
fbem-9136	31	53	and	and	CCONJ
fbem-9136	31	54	discounted	discount	VERB
fbem-9136	31	55	and	and	CCONJ
fbem-9136	31	56	accumulated	accumulate	VERB
fbem-9136	31	57	year	year	NOUN
fbem-9136	31	58	by	by	ADP
fbem-9136	31	59	year	year	NOUN
fbem-9136	31	60	;	;	PUNCT
fbem-9136	31	61	thereafter	thereafter	ADV
fbem-9136	31	62	,	,	PUNCT
fbem-9136	31	63	the	the	DET
fbem-9136	31	64	traffic	traffic	NOUN
fbem-9136	31	65	flow	flow	NOUN
fbem-9136	31	66	will	will	AUX
fbem-9136	31	67	be	be	AUX
fbem-9136	31	68	maintained	maintain	VERB
fbem-9136	31	69	at	at	ADP
fbem-9136	31	70	this	this	DET
fbem-9136	31	71	level	level	NOUN
fbem-9136	31	72	,	,	PUNCT
fbem-9136	31	73	assuming	assume	VERB
fbem-9136	31	74	that	that	SCONJ
fbem-9136	31	75	the	the	DET
fbem-9136	31	76	toll	toll	NOUN
fbem-9136	31	77	rate	rate	NOUN
fbem-9136	31	78	increases	increase	NOUN
fbem-9136	31	79	year	year	NOUN
fbem-9136	31	80	by	by	ADP
fbem-9136	31	81	year	year	NOUN
fbem-9136	31	82	at	at	ADP
fbem-9136	31	83	a	a	DET
fbem-9136	31	84	certain	certain	ADJ
fbem-9136	31	85	growth	growth	NOUN
fbem-9136	31	86	rate	rate	NOUN
fbem-9136	31	87	,	,	PUNCT
fbem-9136	31	88	but	but	CCONJ
fbem-9136	31	89	taking	take	VERB
fbem-9136	31	90	into	into	ADP
fbem-9136	31	91	account	account	NOUN
fbem-9136	31	92	the	the	DET
fbem-9136	31	93	inflation	inflation	NOUN
fbem-9136	31	94	rate	rate	NOUN
fbem-9136	31	95	and	and	CCONJ
fbem-9136	31	96	the	the	DET
fbem-9136	31	97	fact	fact	NOUN
fbem-9136	31	98	that	that	SCONJ
fbem-9136	31	99	the	the	DET
fbem-9136	31	100	traffic	traffic	NOUN
fbem-9136	31	101	flow	flow	NOUN
fbem-9136	31	102	may	may	AUX
fbem-9136	31	103	decrease	decrease	VERB
fbem-9136	31	104	later	later	ADV
fbem-9136	31	105	due	due	ADP
fbem-9136	31	106	to	to	ADP
fbem-9136	31	107	the	the	DET
fbem-9136	31	108	rate	rate	NOUN
fbem-9136	31	109	however	however	ADV
fbem-9136	31	110	,	,	PUNCT
fbem-9136	31	111	considering	consider	VERB
fbem-9136	31	112	that	that	SCONJ
fbem-9136	31	113	the	the	DET
fbem-9136	31	114	inflation	inflation	NOUN
fbem-9136	31	115	rate	rate	NOUN
fbem-9136	31	116	and	and	CCONJ
fbem-9136	31	117	the	the	DET
fbem-9136	31	118	traffic	traffic	NOUN
fbem-9136	31	119	volume	volume	NOUN
fbem-9136	31	120	may	may	AUX
fbem-9136	31	121	decrease	decrease	VERB
fbem-9136	31	122	in	in	ADP
fbem-9136	31	123	the	the	DET
fbem-9136	31	124	later	later	ADJ
fbem-9136	31	125	years	year	NOUN
fbem-9136	31	126	due	due	ADP
fbem-9136	31	127	to	to	ADP
fbem-9136	31	128	the	the	DET
fbem-9136	31	129	rate	rate	NOUN
fbem-9136	31	130	increase	increase	NOUN
fbem-9136	31	131	,	,	PUNCT
fbem-9136	31	132	offsetting	offset	VERB
fbem-9136	31	133	the	the	DET
fbem-9136	31	134	rate	rate	NOUN
fbem-9136	31	135	increase	increase	NOUN
fbem-9136	31	136	,	,	PUNCT
fbem-9136	31	137	the	the	DET
fbem-9136	31	138	final	final	ADJ
fbem-9136	31	139	revenue	revenue	NOUN
fbem-9136	31	140	is	be	AUX
fbem-9136	31	141	still	still	ADV
fbem-9136	31	142	stable	stable	ADJ
fbem-9136	31	143	at	at	ADP
fbem-9136	31	144	a	a	DET
fbem-9136	31	145	certain	certain	ADJ
fbem-9136	31	146	level	level	NOUN
fbem-9136	31	147	,	,	PUNCT
fbem-9136	31	148	for	for	ADP
fbem-9136	31	149	the	the	DET
fbem-9136	31	150	convenience	convenience	NOUN
fbem-9136	31	151	of	of	ADP
fbem-9136	31	152	calculation	calculation	NOUN
fbem-9136	31	153	,	,	PUNCT
fbem-9136	31	154	we	we	PRON
fbem-9136	31	155	can	can	AUX
fbem-9136	31	156	assume	assume	VERB
fbem-9136	31	157	that	that	SCONJ
fbem-9136	31	158	the	the	DET
fbem-9136	31	159	expected	expect	VERB
fbem-9136	31	160	revenue	revenue	NOUN
fbem-9136	31	161	in	in	ADP
fbem-9136	31	162	the	the	DET
fbem-9136	31	163	later	later	ADJ
fbem-9136	31	164	years	year	NOUN
fbem-9136	31	165	is	be	AUX
fbem-9136	31	166	equal	equal	ADJ
fbem-9136	31	167	.	.	PUNCT
fbem-9136	32	1	based	base	VERB
fbem-9136	32	2	on	on	ADP
fbem-9136	32	3	the	the	DET
fbem-9136	32	4	above	above	ADJ
fbem-9136	32	5	analysis	analysis	NOUN
fbem-9136	32	6	,	,	PUNCT
fbem-9136	32	7	the	the	DET
fbem-9136	32	8	author	author	NOUN
fbem-9136	32	9	believes	believe	VERB
fbem-9136	32	10	that	that	SCONJ
fbem-9136	32	11	when	when	SCONJ
fbem-9136	32	12	using	use	VERB
fbem-9136	32	13	the	the	DET
fbem-9136	32	14	present	present	ADJ
fbem-9136	32	15	value	value	NOUN
fbem-9136	32	16	of	of	ADP
fbem-9136	32	17	revenue	revenue	NOUN
fbem-9136	32	18	method	method	NOUN
fbem-9136	32	19	to	to	PART
fbem-9136	32	20	assess	assess	VERB
fbem-9136	32	21	the	the	DET
fbem-9136	32	22	value	value	NOUN
fbem-9136	32	23	of	of	ADP
fbem-9136	32	24	road	road	NOUN
fbem-9136	32	25	toll	toll	NOUN
fbem-9136	32	26	rights	right	NOUN
fbem-9136	32	27	,	,	PUNCT
fbem-9136	32	28	it	it	PRON
fbem-9136	32	29	is	be	AUX
fbem-9136	32	30	most	most	ADV
fbem-9136	32	31	appropriate	appropriate	ADJ
fbem-9136	32	32	to	to	PART
fbem-9136	32	33	transform	transform	VERB
fbem-9136	32	34	the	the	DET
fbem-9136	32	35	formula	formula	NOUN
fbem-9136	32	36	according	accord	VERB
fbem-9136	32	37	to	to	ADP
fbem-9136	32	38	the	the	DET
fbem-9136	32	39	first	first	ADJ
fbem-9136	32	40	form	form	NOUN
fbem-9136	32	41	mentioned	mention	VERB
fbem-9136	32	42	above	above	ADV
fbem-9136	32	43	.	.	PUNCT
fbem-9136	33	1	that	that	PRON
fbem-9136	33	2	is	be	AUX
fbem-9136	33	3	:	:	PUNCT
fbem-9136	33	4	p	p	X
fbem-9136	33	5	a	a	DET
fbem-9136	33	6	1	1	NUM
fbem-9136	33	7	i	i	PRON
fbem-9136	33	8	a	a	DET
fbem-9136	33	9	1	1	NUM
fbem-9136	34	1	i	i	PRON
fbem-9136	34	2	⋯⋯	⋯⋯	PRON
fbem-9136	34	3	a	a	DET
fbem-9136	34	4	1	1	NUM
fbem-9136	34	5	i	i	PRON
fbem-9136	34	6	a	a	PRON
fbem-9136	34	7	i	i	NOUN
fbem-9136	34	8	1	1	NUM
fbem-9136	34	9	i	i	NOUN
fbem-9136	34	10	1	1	NUM
fbem-9136	34	11	1	1	NUM
fbem-9136	34	12	1	1	NUM
fbem-9136	34	13	i	i	PRON
fbem-9136	34	14	where	where	SCONJ
fbem-9136	34	15	the	the	DET
fbem-9136	34	16	expected	expect	VERB
fbem-9136	34	17	return	return	NOUN
fbem-9136	34	18	in	in	ADP
fbem-9136	34	19	year	year	NOUN
fbem-9136	34	20	m	m	VERB
fbem-9136	34	21	and	and	CCONJ
fbem-9136	34	22	all	all	DET
fbem-9136	34	23	subsequent	subsequent	ADJ
fbem-9136	34	24	years	year	NOUN
fbem-9136	34	25	is	be	AUX
fbem-9136	34	26	am	be	AUX
fbem-9136	34	27	.	.	PUNCT
fbem-9136	35	1	from	from	ADP
fbem-9136	35	2	the	the	DET
fbem-9136	35	3	above	above	ADJ
fbem-9136	35	4	analysis	analysis	NOUN
fbem-9136	35	5	,	,	PUNCT
fbem-9136	35	6	it	it	PRON
fbem-9136	35	7	can	can	AUX
fbem-9136	35	8	be	be	AUX
fbem-9136	35	9	seen	see	VERB
fbem-9136	35	10	that	that	SCONJ
fbem-9136	35	11	the	the	DET
fbem-9136	35	12	use	use	NOUN
fbem-9136	35	13	of	of	ADP
fbem-9136	35	14	the	the	DET
fbem-9136	35	15	present	present	ADJ
fbem-9136	35	16	value	value	NOUN
fbem-9136	35	17	of	of	ADP
fbem-9136	35	18	earnings	earning	NOUN
fbem-9136	35	19	method	method	NOUN
fbem-9136	35	20	to	to	PART
fbem-9136	35	21	assess	assess	VERB
fbem-9136	35	22	the	the	DET
fbem-9136	35	23	value	value	NOUN
fbem-9136	35	24	of	of	ADP
fbem-9136	35	25	road	road	NOUN
fbem-9136	35	26	toll	toll	NOUN
fbem-9136	35	27	rights	right	NOUN
fbem-9136	35	28	involves	involve	VERB
fbem-9136	35	29	three	three	NUM
fbem-9136	35	30	important	important	ADJ
fbem-9136	35	31	indicators	indicator	NOUN
fbem-9136	35	32	:	:	PUNCT
fbem-9136	35	33	(	(	PUNCT
fbem-9136	35	34	1	1	X
fbem-9136	35	35	)	)	PUNCT
fbem-9136	35	36	the	the	DET
fbem-9136	35	37	expected	expect	VERB
fbem-9136	35	38	return	return	NOUN
fbem-9136	35	39	a	a	DET
fbem-9136	35	40	,	,	PUNCT
fbem-9136	35	41	(	(	PUNCT
fbem-9136	35	42	2	2	X
fbem-9136	35	43	)	)	PUNCT
fbem-9136	35	44	the	the	DET
fbem-9136	35	45	toll	toll	NOUN
fbem-9136	35	46	period	period	NOUN
fbem-9136	35	47	n	n	CCONJ
fbem-9136	35	48	,	,	PUNCT
fbem-9136	35	49	(	(	PUNCT
fbem-9136	35	50	3	3	X
fbem-9136	35	51	)	)	PUNCT
fbem-9136	35	52	the	the	DET
fbem-9136	35	53	financial	financial	ADJ
fbem-9136	35	54	discount	discount	NOUN
fbem-9136	35	55	rate	rate	NOUN
fbem-9136	35	56	i	i	PRON
fbem-9136	35	57	.	.	PUNCT
fbem-9136	36	1	in	in	ADP
fbem-9136	36	2	order	order	NOUN
fbem-9136	36	3	to	to	PART
fbem-9136	36	4	improve	improve	VERB
fbem-9136	36	5	the	the	DET
fbem-9136	36	6	practicality	practicality	NOUN
fbem-9136	36	7	of	of	ADP
fbem-9136	36	8	the	the	DET
fbem-9136	36	9	present	present	ADJ
fbem-9136	36	10	value	value	NOUN
fbem-9136	36	11	of	of	ADP
fbem-9136	36	12	earnings	earning	NOUN
fbem-9136	36	13	method	method	NOUN
fbem-9136	36	14	in	in	ADP
fbem-9136	36	15	the	the	DET
fbem-9136	36	16	evaluation	evaluation	NOUN
fbem-9136	36	17	of	of	ADP
fbem-9136	36	18	road	road	NOUN
fbem-9136	36	19	toll	toll	NOUN
fbem-9136	36	20	rights	right	NOUN
fbem-9136	36	21	,	,	PUNCT
fbem-9136	36	22	the	the	DET
fbem-9136	36	23	author	author	NOUN
fbem-9136	36	24	briefly	briefly	NOUN
fbem-9136	36	25	analyses	analyse	VERB
fbem-9136	36	26	the	the	DET
fbem-9136	36	27	uncertainty	uncertainty	NOUN
fbem-9136	36	28	of	of	ADP
fbem-9136	36	29	the	the	DET
fbem-9136	36	30	three	three	NUM
fbem-9136	36	31	elements	element	NOUN
fbem-9136	36	32	.	.	PUNCT
fbem-9136	37	1	3.1	3.1	NUM
fbem-9136	37	2	.	.	PUNCT
fbem-9136	37	3	forecasting	forecasting	NOUN
fbem-9136	37	4	of	of	ADP
fbem-9136	37	5	expected	expect	VERB
fbem-9136	37	6	return	return	NOUN
fbem-9136	37	7	values	value	NOUN
fbem-9136	37	8	in	in	ADP
fbem-9136	37	9	the	the	DET
fbem-9136	37	10	valuation	valuation	NOUN
fbem-9136	37	11	of	of	ADP
fbem-9136	37	12	road	road	NOUN
fbem-9136	37	13	toll	toll	NOUN
fbem-9136	37	14	rights	right	NOUN
fbem-9136	37	15	,	,	PUNCT
fbem-9136	37	16	the	the	DET
fbem-9136	37	17	author	author	NOUN
fbem-9136	37	18	believes	believe	VERB
fbem-9136	37	19	that	that	SCONJ
fbem-9136	37	20	future	future	ADJ
fbem-9136	37	21	net	net	ADJ
fbem-9136	37	22	cash	cash	NOUN
fbem-9136	37	23	flow	flow	NOUN
fbem-9136	37	24	is	be	AUX
fbem-9136	37	25	a	a	DET
fbem-9136	37	26	more	more	ADV
fbem-9136	37	27	reasonable	reasonable	ADJ
fbem-9136	37	28	way	way	NOUN
fbem-9136	37	29	to	to	PART
fbem-9136	37	30	determine	determine	VERB
fbem-9136	37	31	revenue	revenue	NOUN
fbem-9136	37	32	,	,	PUNCT
fbem-9136	37	33	with	with	ADP
fbem-9136	37	34	the	the	DET
fbem-9136	37	35	net	net	ADJ
fbem-9136	37	36	cash	cash	NOUN
fbem-9136	37	37	inflow	inflow	NOUN
fbem-9136	37	38	in	in	ADP
fbem-9136	37	39	each	each	DET
fbem-9136	37	40	future	future	ADJ
fbem-9136	37	41	year	year	NOUN
fbem-9136	37	42	being	be	AUX
fbem-9136	37	43	the	the	DET
fbem-9136	37	44	balance	balance	NOUN
fbem-9136	37	45	of	of	ADP
fbem-9136	37	46	road	road	NOUN
fbem-9136	37	47	toll	toll	NOUN
fbem-9136	37	48	revenue	revenue	NOUN
fbem-9136	37	49	less	less	ADJ
fbem-9136	37	50	maintenance	maintenance	NOUN
fbem-9136	37	51	costs	cost	NOUN
fbem-9136	37	52	,	,	PUNCT
fbem-9136	37	53	management	management	NOUN
fbem-9136	37	54	costs	cost	NOUN
fbem-9136	37	55	,	,	PUNCT
fbem-9136	37	56	taxes	taxis	NOUN
fbem-9136	37	57	and	and	CCONJ
fbem-9136	37	58	fees	fee	NOUN
fbem-9136	37	59	and	and	CCONJ
fbem-9136	37	60	various	various	ADJ
fbem-9136	37	61	other	other	ADJ
fbem-9136	37	62	expenses	expense	NOUN
fbem-9136	37	63	.	.	PUNCT
fbem-9136	38	1	toll	toll	NOUN
fbem-9136	38	2	revenue	revenue	NOUN
fbem-9136	38	3	is	be	AUX
fbem-9136	38	4	generally	generally	ADV
fbem-9136	38	5	the	the	DET
fbem-9136	38	6	product	product	NOUN
fbem-9136	38	7	of	of	ADP
fbem-9136	38	8	the	the	DET
fbem-9136	38	9	volume	volume	NOUN
fbem-9136	38	10	of	of	ADP
fbem-9136	38	11	traffic	traffic	NOUN
fbem-9136	38	12	charged	charge	VERB
fbem-9136	38	13	by	by	ADP
fbem-9136	38	14	vehicle	vehicle	NOUN
fbem-9136	38	15	type	type	NOUN
fbem-9136	38	16	and	and	CCONJ
fbem-9136	38	17	the	the	DET
fbem-9136	38	18	respective	respective	ADJ
fbem-9136	38	19	toll	toll	NOUN
fbem-9136	38	20	rates	rate	NOUN
fbem-9136	38	21	.	.	PUNCT
fbem-9136	39	1	in	in	ADP
fbem-9136	39	2	calculating	calculate	VERB
fbem-9136	39	3	the	the	DET
fbem-9136	39	4	relevant	relevant	ADJ
fbem-9136	39	5	deductions	deduction	NOUN
fbem-9136	39	6	for	for	ADP
fbem-9136	39	7	costs	cost	NOUN
fbem-9136	39	8	and	and	CCONJ
fbem-9136	39	9	expenses	expense	NOUN
fbem-9136	39	10	,	,	PUNCT
fbem-9136	39	11	it	it	PRON
fbem-9136	39	12	is	be	AUX
fbem-9136	39	13	important	important	ADJ
fbem-9136	39	14	to	to	PART
fbem-9136	39	15	note	note	VERB
fbem-9136	39	16	that	that	SCONJ
fbem-9136	39	17	interest	interest	NOUN
fbem-9136	39	18	charges	charge	NOUN
fbem-9136	39	19	and	and	CCONJ
fbem-9136	39	20	expenses	expense	NOUN
fbem-9136	39	21	that	that	PRON
fbem-9136	39	22	fall	fall	VERB
fbem-9136	39	23	within	within	ADP
fbem-9136	39	24	the	the	DET
fbem-9136	39	25	scope	scope	NOUN
fbem-9136	39	26	of	of	ADP
fbem-9136	39	27	a	a	DET
fbem-9136	39	28	road	road	NOUN
fbem-9136	39	29	operating	operate	VERB
fbem-9136	39	30	business	business	NOUN
fbem-9136	39	31	should	should	AUX
fbem-9136	39	32	not	not	PART
fbem-9136	39	33	be	be	AUX
fbem-9136	39	34	included	include	VERB
fbem-9136	39	35	.	.	PUNCT
fbem-9136	40	1	3.2	3.2	NUM
fbem-9136	40	2	.	.	PUNCT
fbem-9136	40	3	determination	determination	NOUN
fbem-9136	40	4	of	of	ADP
fbem-9136	40	5	the	the	DET
fbem-9136	40	6	fee	fee	NOUN
fbem-9136	40	7	period	period	NOUN
fbem-9136	40	8	in	in	ADP
fbem-9136	40	9	accordance	accordance	NOUN
fbem-9136	40	10	with	with	ADP
fbem-9136	40	11	the	the	DET
fbem-9136	40	12	provisions	provision	NOUN
fbem-9136	40	13	of	of	ADP
fbem-9136	40	14	the	the	DET
fbem-9136	40	15	measures	measure	NOUN
fbem-9136	40	16	for	for	ADP
fbem-9136	40	17	the	the	DET
fbem-9136	40	18	transfer	transfer	NOUN
fbem-9136	40	19	of	of	ADP
fbem-9136	40	20	interests	interest	NOUN
fbem-9136	40	21	in	in	ADP
fbem-9136	40	22	toll	toll	NOUN
fbem-9136	40	23	roads	road	NOUN
fbem-9136	40	24	,	,	PUNCT
fbem-9136	40	25	the	the	DET
fbem-9136	40	26	maximum	maximum	ADJ
fbem-9136	40	27	cumulative	cumulative	ADJ
fbem-9136	40	28	toll	toll	NOUN
fbem-9136	40	29	collection	collection	NOUN
fbem-9136	40	30	period	period	NOUN
fbem-9136	40	31	for	for	ADP
fbem-9136	40	32	the	the	DET
fbem-9136	40	33	transfer	transfer	NOUN
fbem-9136	40	34	of	of	ADP
fbem-9136	40	35	operating	operate	VERB
fbem-9136	40	36	highway	highway	NOUN
fbem-9136	40	37	toll	toll	NOUN
fbem-9136	40	38	rights	right	NOUN
fbem-9136	40	39	shall	shall	AUX
fbem-9136	40	40	not	not	PART
fbem-9136	40	41	exceed	exceed	VERB
fbem-9136	40	42	25	25	NUM
fbem-9136	40	43	years	year	NOUN
fbem-9136	40	44	,	,	PUNCT
fbem-9136	40	45	and	and	CCONJ
fbem-9136	40	46	the	the	DET
fbem-9136	40	47	maximum	maximum	ADJ
fbem-9136	40	48	period	period	NOUN
fbem-9136	40	49	shall	shall	AUX
fbem-9136	40	50	not	not	PART
fbem-9136	40	51	exceed	exceed	VERB
fbem-9136	40	52	30	30	NUM
fbem-9136	40	53	years	year	NOUN
fbem-9136	40	54	in	in	ADP
fbem-9136	40	55	the	the	DET
fbem-9136	40	56	central	central	ADJ
fbem-9136	40	57	and	and	CCONJ
fbem-9136	40	58	western	western	ADJ
fbem-9136	40	59	provinces	province	NOUN
fbem-9136	40	60	and	and	CCONJ
fbem-9136	40	61	municipalities	municipality	NOUN
fbem-9136	40	62	as	as	SCONJ
fbem-9136	40	63	determined	determine	VERB
fbem-9136	40	64	by	by	ADP
fbem-9136	40	65	the	the	DET
fbem-9136	40	66	state	state	NOUN
fbem-9136	40	67	.	.	PUNCT
fbem-9136	41	1	it	it	PRON
fbem-9136	41	2	is	be	AUX
fbem-9136	41	3	thus	thus	ADV
fbem-9136	41	4	clear	clear	ADJ
fbem-9136	41	5	that	that	SCONJ
fbem-9136	41	6	the	the	DET
fbem-9136	41	7	state	state	NOUN
fbem-9136	41	8	has	have	AUX
fbem-9136	41	9	set	set	VERB
fbem-9136	41	10	a	a	DET
fbem-9136	41	11	restrictive	restrictive	ADJ
fbem-9136	41	12	limit	limit	NOUN
fbem-9136	41	13	on	on	ADP
fbem-9136	41	14	the	the	DET
fbem-9136	41	15	number	number	NOUN
fbem-9136	41	16	of	of	ADP
fbem-9136	41	17	years	year	NOUN
fbem-9136	41	18	for	for	ADP
fbem-9136	41	19	the	the	DET
fbem-9136	41	20	transfer	transfer	NOUN
fbem-9136	41	21	of	of	ADP
fbem-9136	41	22	road	road	NOUN
fbem-9136	41	23	toll	toll	NOUN
fbem-9136	41	24	rights	right	NOUN
fbem-9136	41	25	,	,	PUNCT
fbem-9136	41	26	and	and	CCONJ
fbem-9136	41	27	the	the	DET
fbem-9136	41	28	specific	specific	ADJ
fbem-9136	41	29	number	number	NOUN
fbem-9136	41	30	of	of	ADP
fbem-9136	41	31	years	year	NOUN
fbem-9136	41	32	for	for	ADP
fbem-9136	41	33	the	the	DET
fbem-9136	41	34	transfer	transfer	NOUN
fbem-9136	41	35	is	be	AUX
fbem-9136	41	36	the	the	DET
fbem-9136	41	37	result	result	NOUN
fbem-9136	41	38	of	of	ADP
fbem-9136	41	39	a	a	DET
fbem-9136	41	40	mutual	mutual	ADJ
fbem-9136	41	41	agreement	agreement	NOUN
fbem-9136	41	42	between	between	ADP
fbem-9136	41	43	the	the	DET
fbem-9136	41	44	transferring	transfer	VERB
fbem-9136	41	45	parties	party	NOUN
fbem-9136	41	46	and	and	CCONJ
fbem-9136	41	47	the	the	DET
fbem-9136	41	48	asset	asset	NOUN
fbem-9136	41	49	appraisal	appraisal	NOUN
fbem-9136	41	50	agency	agency	NOUN
fbem-9136	41	51	within	within	ADP
fbem-9136	41	52	this	this	DET
fbem-9136	41	53	range	range	NOUN
fbem-9136	41	54	.	.	PUNCT
fbem-9136	42	1	however	however	ADV
fbem-9136	42	2	,	,	PUNCT
fbem-9136	42	3	this	this	DET
fbem-9136	42	4	agreement	agreement	NOUN
fbem-9136	42	5	is	be	AUX
fbem-9136	42	6	not	not	PART
fbem-9136	42	7	arbitrarily	arbitrarily	ADV
fbem-9136	42	8	determined	determine	VERB
fbem-9136	42	9	.	.	PUNCT
fbem-9136	43	1	in	in	ADP
fbem-9136	43	2	the	the	DET
fbem-9136	43	3	case	case	NOUN
fbem-9136	43	4	of	of	ADP
fbem-9136	43	5	an	an	DET
fbem-9136	43	6	investor	investor	NOUN
fbem-9136	43	7	,	,	PUNCT
fbem-9136	43	8	the	the	DET
fbem-9136	43	9	transfer	transfer	NOUN
fbem-9136	43	10	term	term	NOUN
fbem-9136	43	11	can	can	AUX
fbem-9136	43	12	be	be	AUX
fbem-9136	43	13	considered	consider	VERB
fbem-9136	43	14	as	as	ADP
fbem-9136	43	15	the	the	DET
fbem-9136	43	16	dynamic	dynamic	ADJ
fbem-9136	43	17	recovery	recovery	NOUN
fbem-9136	43	18	period	period	NOUN
fbem-9136	43	19	of	of	ADP
fbem-9136	43	20	the	the	DET
fbem-9136	43	21	road	road	NOUN
fbem-9136	43	22	segment	segment	NOUN
fbem-9136	43	23	,	,	PUNCT
fbem-9136	43	24	so	so	SCONJ
fbem-9136	43	25	that	that	SCONJ
fbem-9136	43	26	the	the	DET
fbem-9136	43	27	transfer	transfer	NOUN
fbem-9136	43	28	term	term	NOUN
fbem-9136	43	29	is	be	AUX
fbem-9136	43	30	m	m	PRON
fbem-9136	43	31	,	,	PUNCT
fbem-9136	43	32	according	accord	VERB
fbem-9136	43	33	to	to	ADP
fbem-9136	43	34	the	the	DET
fbem-9136	43	35	formula	formula	NOUN
fbem-9136	43	36	a	a	DET
fbem-9136	43	37	1	1	NUM
fbem-9136	43	38	i	i	PRON
fbem-9136	43	39	p	p	VERB
fbem-9136	43	40	assuming	assume	VERB
fbem-9136	43	41	that	that	SCONJ
fbem-9136	43	42	the	the	DET
fbem-9136	43	43	net	net	ADJ
fbem-9136	43	44	cash	cash	NOUN
fbem-9136	43	45	flows	flow	NOUN
fbem-9136	43	46	are	be	AUX
fbem-9136	43	47	equal	equal	ADJ
fbem-9136	43	48	in	in	ADP
fbem-9136	43	49	each	each	DET
fbem-9136	43	50	year	year	NOUN
fbem-9136	43	51	,	,	PUNCT
fbem-9136	43	52	i.e.	i.e.	X
fbem-9136	43	53	a1	a1	NOUN
fbem-9136	43	54	=	=	ADJ
fbem-9136	43	55	a2=	a2=	X
fbem-9136	43	56	…	…	PUNCT
fbem-9136	43	57	…	…	PUNCT
fbem-9136	43	58	=am	=am	SYM
fbem-9136	43	59	=	=	NOUN
fbem-9136	43	60	a	a	NOUN
fbem-9136	43	61	,	,	PUNCT
fbem-9136	43	62	then	then	ADV
fbem-9136	43	63	m	m	PROPN
fbem-9136	43	64	lna	lna	PROPN
fbem-9136	43	65	ln	ln	PROPN
fbem-9136	43	66	a	a	DET
fbem-9136	43	67	pi	pi	NOUN
fbem-9136	43	68	ln	ln	ADJ
fbem-9136	43	69	1	1	NUM
fbem-9136	43	70	i	i	PRON
fbem-9136	43	71	as	as	SCONJ
fbem-9136	43	72	can	can	AUX
fbem-9136	43	73	be	be	AUX
fbem-9136	43	74	seen	see	VERB
fbem-9136	43	75	,	,	PUNCT
fbem-9136	43	76	although	although	SCONJ
fbem-9136	43	77	the	the	DET
fbem-9136	43	78	scope	scope	NOUN
fbem-9136	43	79	of	of	ADP
fbem-9136	43	80	the	the	DET
fbem-9136	43	81	road	road	NOUN
fbem-9136	43	82	tolling	tolling	NOUN
fbem-9136	43	83	period	period	NOUN
fbem-9136	43	84	is	be	AUX
fbem-9136	43	85	regulated	regulate	VERB
fbem-9136	43	86	by	by	ADP
fbem-9136	43	87	the	the	DET
fbem-9136	43	88	state	state	NOUN
fbem-9136	43	89	,	,	PUNCT
fbem-9136	43	90	for	for	ADP
fbem-9136	43	91	investors	investor	NOUN
fbem-9136	43	92	,	,	PUNCT
fbem-9136	43	93	if	if	SCONJ
fbem-9136	43	94	the	the	DET
fbem-9136	43	95	actual	actual	ADJ
fbem-9136	43	96	period	period	NOUN
fbem-9136	43	97	of	of	ADP
fbem-9136	43	98	transfer	transfer	NOUN
fbem-9136	43	99	is	be	AUX
fbem-9136	43	100	shorter	short	ADJ
fbem-9136	43	101	than	than	ADP
fbem-9136	43	102	their	their	PRON
fbem-9136	43	103	dynamic	dynamic	ADJ
fbem-9136	43	104	payback	payback	NOUN
fbem-9136	43	105	period	period	NOUN
fbem-9136	43	106	,	,	PUNCT
fbem-9136	43	107	investors	investor	NOUN
fbem-9136	43	108	will	will	AUX
fbem-9136	43	109	lose	lose	VERB
fbem-9136	43	110	their	their	PRON
fbem-9136	43	111	incentive	incentive	NOUN
fbem-9136	43	112	to	to	PART
fbem-9136	43	113	invest	invest	VERB
fbem-9136	43	114	in	in	ADP
fbem-9136	43	115	the	the	DET
fbem-9136	43	116	right	right	NOUN
fbem-9136	43	117	to	to	PART
fbem-9136	43	118	be	be	AUX
fbem-9136	43	119	transferred	transfer	VERB
fbem-9136	43	120	to	to	ADP
fbem-9136	43	121	that	that	DET
fbem-9136	43	122	road	road	NOUN
fbem-9136	43	123	toll	toll	NOUN
fbem-9136	43	124	.	.	PUNCT
fbem-9136	44	1	3.3	3.3	NUM
fbem-9136	44	2	.	.	PUNCT
fbem-9136	45	1	determination	determination	NOUN
fbem-9136	45	2	of	of	ADP
fbem-9136	45	3	financial	financial	ADJ
fbem-9136	45	4	discount	discount	NOUN
fbem-9136	45	5	rate	rate	NOUN
fbem-9136	45	6	the	the	DET
fbem-9136	45	7	financial	financial	ADJ
fbem-9136	45	8	discount	discount	NOUN
fbem-9136	45	9	rate	rate	NOUN
fbem-9136	45	10	used	use	VERB
fbem-9136	45	11	in	in	ADP
fbem-9136	45	12	the	the	DET
fbem-9136	45	13	assessment	assessment	NOUN
fbem-9136	45	14	of	of	ADP
fbem-9136	45	15	the	the	DET
fbem-9136	45	16	value	value	NOUN
fbem-9136	45	17	of	of	ADP
fbem-9136	45	18	road	road	NOUN
fbem-9136	45	19	toll	toll	NOUN
fbem-9136	45	20	rights	right	NOUN
fbem-9136	45	21	in	in	ADP
fbem-9136	45	22	the	the	DET
fbem-9136	45	23	present	present	ADJ
fbem-9136	45	24	value	value	NOUN
fbem-9136	45	25	of	of	ADP
fbem-9136	45	26	earnings	earning	NOUN
fbem-9136	45	27	method	method	NOUN
fbem-9136	45	28	can	can	AUX
fbem-9136	45	29	be	be	AUX
fbem-9136	45	30	considered	consider	VERB
fbem-9136	45	31	as	as	ADP
fbem-9136	45	32	the	the	DET
fbem-9136	45	33	expected	expect	VERB
fbem-9136	45	34	rate	rate	NOUN
fbem-9136	45	35	of	of	ADP
fbem-9136	45	36	return	return	NOUN
fbem-9136	45	37	of	of	ADP
fbem-9136	45	38	the	the	DET
fbem-9136	45	39	transferee	transferee	NOUN
fbem-9136	45	40	or	or	CCONJ
fbem-9136	45	41	the	the	DET
fbem-9136	45	42	rate	rate	NOUN
fbem-9136	45	43	of	of	ADP
fbem-9136	45	44	return	return	NOUN
fbem-9136	45	45	on	on	ADP
fbem-9136	45	46	investment	investment	NOUN
fbem-9136	45	47	of	of	ADP
fbem-9136	45	48	the	the	DET
fbem-9136	45	49	transferor	transferor	NOUN
fbem-9136	45	50	110	110	NUM
fbem-9136	45	51	at	at	ADP
fbem-9136	45	52	the	the	DET
fbem-9136	45	53	time	time	NOUN
fbem-9136	45	54	of	of	ADP
fbem-9136	45	55	investment	investment	NOUN
fbem-9136	45	56	.	.	PUNCT
fbem-9136	46	1	the	the	DET
fbem-9136	46	2	regulations	regulation	NOUN
fbem-9136	46	3	relating	relate	VERB
fbem-9136	46	4	to	to	ADP
fbem-9136	46	5	the	the	DET
fbem-9136	46	6	transfer	transfer	NOUN
fbem-9136	46	7	of	of	ADP
fbem-9136	46	8	road	road	NOUN
fbem-9136	46	9	toll	toll	NOUN
fbem-9136	46	10	rights	right	NOUN
fbem-9136	46	11	do	do	AUX
fbem-9136	46	12	not	not	PART
fbem-9136	46	13	specifically	specifically	ADV
fbem-9136	46	14	involve	involve	VERB
fbem-9136	46	15	provisions	provision	NOUN
fbem-9136	46	16	on	on	ADP
fbem-9136	46	17	the	the	DET
fbem-9136	46	18	financial	financial	ADJ
fbem-9136	46	19	discount	discount	NOUN
fbem-9136	46	20	rate	rate	NOUN
fbem-9136	46	21	.	.	PUNCT
fbem-9136	47	1	according	accord	VERB
fbem-9136	47	2	to	to	ADP
fbem-9136	47	3	the	the	DET
fbem-9136	47	4	relevant	relevant	ADJ
fbem-9136	47	5	principles	principle	NOUN
fbem-9136	47	6	of	of	ADP
fbem-9136	47	7	financial	financial	ADJ
fbem-9136	47	8	management	management	NOUN
fbem-9136	47	9	,	,	PUNCT
fbem-9136	47	10	the	the	DET
fbem-9136	47	11	rate	rate	NOUN
fbem-9136	47	12	of	of	ADP
fbem-9136	47	13	return	return	NOUN
fbem-9136	47	14	on	on	ADP
fbem-9136	47	15	investment	investment	NOUN
fbem-9136	47	16	can	can	AUX
fbem-9136	47	17	be	be	AUX
fbem-9136	47	18	divided	divide	VERB
fbem-9136	47	19	into	into	ADP
fbem-9136	47	20	two	two	NUM
fbem-9136	47	21	parts	part	NOUN
fbem-9136	47	22	:	:	PUNCT
fbem-9136	47	23	risk	risk	NOUN
fbem-9136	47	24	-	-	PUNCT
fbem-9136	47	25	free	free	ADJ
fbem-9136	47	26	rate	rate	NOUN
fbem-9136	47	27	of	of	ADP
fbem-9136	47	28	return	return	NOUN
fbem-9136	47	29	and	and	CCONJ
fbem-9136	47	30	risk	risk	NOUN
fbem-9136	47	31	-	-	PUNCT
fbem-9136	47	32	based	base	VERB
fbem-9136	47	33	rate	rate	NOUN
fbem-9136	47	34	of	of	ADP
fbem-9136	47	35	return	return	NOUN
fbem-9136	47	36	.	.	PUNCT
fbem-9136	48	1	namely	namely	ADV
fbem-9136	48	2	r	r	VERB
fbem-9136	48	3	rg	rg	PROPN
fbem-9136	48	4	rm	rm	NOUN
fbem-9136	48	5	rg	rg	PROPN
fbem-9136	48	6	β	β	PROPN
fbem-9136	48	7	where	where	SCONJ
fbem-9136	48	8	r	r	NOUN
fbem-9136	48	9	is	be	AUX
fbem-9136	48	10	the	the	DET
fbem-9136	48	11	discount	discount	NOUN
fbem-9136	48	12	rate	rate	NOUN
fbem-9136	48	13	,	,	PUNCT
fbem-9136	48	14	rg	rg	PROPN
fbem-9136	48	15	is	be	AUX
fbem-9136	48	16	the	the	DET
fbem-9136	48	17	risk	risk	NOUN
fbem-9136	48	18	-	-	PUNCT
fbem-9136	48	19	free	free	ADJ
fbem-9136	48	20	rate	rate	NOUN
fbem-9136	48	21	of	of	ADP
fbem-9136	48	22	return	return	NOUN
fbem-9136	48	23	and	and	CCONJ
fbem-9136	48	24	rm	rm	NOUN
fbem-9136	48	25	is	be	AUX
fbem-9136	48	26	the	the	DET
fbem-9136	48	27	average	average	ADJ
fbem-9136	48	28	market	market	NOUN
fbem-9136	48	29	rate	rate	NOUN
fbem-9136	48	30	of	of	ADP
fbem-9136	48	31	return	return	NOUN
fbem-9136	48	32	.	.	PUNCT
fbem-9136	49	1	this	this	PRON
fbem-9136	49	2	is	be	AUX
fbem-9136	49	3	the	the	DET
fbem-9136	49	4	basic	basic	ADJ
fbem-9136	49	5	model	model	NOUN
fbem-9136	49	6	for	for	ADP
fbem-9136	49	7	calculating	calculate	VERB
fbem-9136	49	8	the	the	DET
fbem-9136	49	9	rate	rate	NOUN
fbem-9136	49	10	of	of	ADP
fbem-9136	49	11	return	return	NOUN
fbem-9136	49	12	in	in	ADP
fbem-9136	49	13	financial	financial	ADJ
fbem-9136	49	14	management	management	NOUN
fbem-9136	49	15	theory	theory	NOUN
fbem-9136	49	16	,	,	PUNCT
fbem-9136	49	17	which	which	PRON
fbem-9136	49	18	has	have	VERB
fbem-9136	49	19	a	a	DET
fbem-9136	49	20	certain	certain	ADJ
fbem-9136	49	21	reference	reference	NOUN
fbem-9136	49	22	role	role	NOUN
fbem-9136	49	23	in	in	ADP
fbem-9136	49	24	determining	determine	VERB
fbem-9136	49	25	the	the	DET
fbem-9136	49	26	financial	financial	ADJ
fbem-9136	49	27	discount	discount	NOUN
fbem-9136	49	28	rate	rate	NOUN
fbem-9136	49	29	in	in	ADP
fbem-9136	49	30	the	the	DET
fbem-9136	49	31	valuation	valuation	NOUN
fbem-9136	49	32	of	of	ADP
fbem-9136	49	33	road	road	NOUN
fbem-9136	49	34	toll	toll	NOUN
fbem-9136	49	35	rights	right	NOUN
fbem-9136	49	36	.	.	PUNCT
fbem-9136	50	1	however	however	ADV
fbem-9136	50	2	,	,	PUNCT
fbem-9136	50	3	in	in	ADP
fbem-9136	50	4	the	the	DET
fbem-9136	50	5	actual	actual	ADJ
fbem-9136	50	6	operation	operation	NOUN
fbem-9136	50	7	process	process	NOUN
fbem-9136	50	8	,	,	PUNCT
fbem-9136	50	9	it	it	PRON
fbem-9136	50	10	can	can	AUX
fbem-9136	50	11	be	be	AUX
fbem-9136	50	12	considered	consider	VERB
fbem-9136	50	13	that	that	SCONJ
fbem-9136	50	14	the	the	DET
fbem-9136	50	15	asset	asset	NOUN
fbem-9136	50	16	appraisal	appraisal	NOUN
fbem-9136	50	17	agency	agency	NOUN
fbem-9136	50	18	does	do	AUX
fbem-9136	50	19	not	not	PART
fbem-9136	50	20	establish	establish	VERB
fbem-9136	50	21	a	a	DET
fbem-9136	50	22	complex	complex	ADJ
fbem-9136	50	23	mathematical	mathematical	ADJ
fbem-9136	50	24	model	model	NOUN
fbem-9136	50	25	to	to	PART
fbem-9136	50	26	calculate	calculate	VERB
fbem-9136	50	27	the	the	DET
fbem-9136	50	28	financial	financial	ADJ
fbem-9136	50	29	discount	discount	NOUN
fbem-9136	50	30	rate	rate	NOUN
fbem-9136	50	31	of	of	ADP
fbem-9136	50	32	this	this	DET
fbem-9136	50	33	indicator	indicator	NOUN
fbem-9136	50	34	,	,	PUNCT
fbem-9136	50	35	its	its	PRON
fbem-9136	50	36	value	value	NOUN
fbem-9136	50	37	is	be	AUX
fbem-9136	50	38	often	often	ADV
fbem-9136	50	39	"	"	PUNCT
fbem-9136	50	40	the	the	DET
fbem-9136	50	41	result	result	NOUN
fbem-9136	50	42	of	of	ADP
fbem-9136	50	43	bargaining	bargaining	NOUN
fbem-9136	50	44	between	between	ADP
fbem-9136	50	45	the	the	DET
fbem-9136	50	46	two	two	NUM
fbem-9136	50	47	sides	side	NOUN
fbem-9136	50	48	of	of	ADP
fbem-9136	50	49	the	the	DET
fbem-9136	50	50	road	road	NOUN
fbem-9136	50	51	toll	toll	NOUN
fbem-9136	50	52	right	right	ADJ
fbem-9136	50	53	transferee	transferee	NOUN
fbem-9136	50	54	,	,	PUNCT
fbem-9136	50	55	can	can	AUX
fbem-9136	50	56	also	also	ADV
fbem-9136	50	57	be	be	AUX
fbem-9136	50	58	called	call	VERB
fbem-9136	50	59	'	'	PUNCT
fbem-9136	50	60	fair	fair	ADJ
fbem-9136	50	61	rate	rate	NOUN
fbem-9136	50	62	of	of	ADP
fbem-9136	50	63	return	return	NOUN
fbem-9136	50	64	on	on	ADP
fbem-9136	50	65	investment	investment	NOUN
fbem-9136	50	66	'	'	PUNCT
fbem-9136	50	67	"	"	PUNCT
fbem-9136	50	68	.	.	PUNCT
fbem-9136	51	1	therefore	therefore	ADV
fbem-9136	51	2	,	,	PUNCT
fbem-9136	51	3	the	the	DET
fbem-9136	51	4	author	author	NOUN
fbem-9136	51	5	believes	believe	VERB
fbem-9136	51	6	that	that	SCONJ
fbem-9136	51	7	,	,	PUNCT
fbem-9136	51	8	when	when	SCONJ
fbem-9136	51	9	assessing	assess	VERB
fbem-9136	51	10	the	the	DET
fbem-9136	51	11	value	value	NOUN
fbem-9136	51	12	of	of	ADP
fbem-9136	51	13	road	road	NOUN
fbem-9136	51	14	toll	toll	NOUN
fbem-9136	51	15	rights	right	NOUN
fbem-9136	51	16	,	,	PUNCT
fbem-9136	51	17	it	it	PRON
fbem-9136	51	18	is	be	AUX
fbem-9136	51	19	not	not	PART
fbem-9136	51	20	necessary	necessary	ADJ
fbem-9136	51	21	to	to	PART
fbem-9136	51	22	use	use	VERB
fbem-9136	51	23	complex	complex	ADJ
fbem-9136	51	24	mathematical	mathematical	ADJ
fbem-9136	51	25	formulas	formula	NOUN
fbem-9136	51	26	to	to	PART
fbem-9136	51	27	calculate	calculate	VERB
fbem-9136	51	28	a	a	DET
fbem-9136	51	29	so	so	ADV
fbem-9136	51	30	-	-	PUNCT
fbem-9136	51	31	called	call	VERB
fbem-9136	51	32	precise	precise	ADJ
fbem-9136	51	33	but	but	CCONJ
fbem-9136	51	34	possibly	possibly	ADV
fbem-9136	51	35	unacceptable	unacceptable	ADJ
fbem-9136	51	36	discount	discount	NOUN
fbem-9136	51	37	rate	rate	NOUN
fbem-9136	51	38	value	value	NOUN
fbem-9136	51	39	for	for	ADP
fbem-9136	51	40	both	both	DET
fbem-9136	51	41	sides	side	NOUN
fbem-9136	51	42	of	of	ADP
fbem-9136	51	43	the	the	DET
fbem-9136	51	44	transaction	transaction	NOUN
fbem-9136	51	45	,	,	PUNCT
fbem-9136	51	46	and	and	CCONJ
fbem-9136	51	47	both	both	DET
fbem-9136	51	48	sides	side	NOUN
fbem-9136	51	49	of	of	ADP
fbem-9136	51	50	the	the	DET
fbem-9136	51	51	transaction	transaction	NOUN
fbem-9136	51	52	can	can	AUX
fbem-9136	51	53	negotiate	negotiate	VERB
fbem-9136	51	54	based	base	VERB
fbem-9136	51	55	on	on	ADP
fbem-9136	51	56	their	their	PRON
fbem-9136	51	57	respective	respective	ADJ
fbem-9136	51	58	knowledge	knowledge	NOUN
fbem-9136	51	59	of	of	ADP
fbem-9136	51	60	risk	risk	NOUN
fbem-9136	51	61	-	-	PUNCT
fbem-9136	51	62	free	free	ADJ
fbem-9136	51	63	rate	rate	NOUN
fbem-9136	51	64	of	of	ADP
fbem-9136	51	65	return	return	NOUN
fbem-9136	51	66	and	and	CCONJ
fbem-9136	51	67	risk	risk	NOUN
fbem-9136	51	68	-	-	PUNCT
fbem-9136	51	69	reward	reward	NOUN
fbem-9136	51	70	theory	theory	NOUN
fbem-9136	51	71	,	,	PUNCT
fbem-9136	51	72	and	and	CCONJ
fbem-9136	51	73	use	use	VERB
fbem-9136	51	74	this	this	PRON
fbem-9136	51	75	as	as	ADP
fbem-9136	51	76	the	the	DET
fbem-9136	51	77	main	main	ADJ
fbem-9136	51	78	basis	basis	NOUN
fbem-9136	51	79	for	for	ADP
fbem-9136	51	80	determining	determine	VERB
fbem-9136	51	81	the	the	DET
fbem-9136	51	82	discount	discount	NOUN
fbem-9136	51	83	rate	rate	NOUN
fbem-9136	51	84	.	.	PUNCT
fbem-9136	52	1	4	4	X
fbem-9136	52	2	.	.	X
fbem-9136	52	3	deficiencies	deficiency	NOUN
fbem-9136	52	4	of	of	ADP
fbem-9136	52	5	the	the	DET
fbem-9136	52	6	income	income	NOUN
fbem-9136	52	7	approach	approach	NOUN
fbem-9136	52	8	to	to	ADP
fbem-9136	52	9	valuing	value	VERB
fbem-9136	52	10	road	road	NOUN
fbem-9136	52	11	toll	toll	NOUN
fbem-9136	52	12	rights	right	VERB
fbem-9136	52	13	the	the	DET
fbem-9136	52	14	transfer	transfer	NOUN
fbem-9136	52	15	of	of	ADP
fbem-9136	52	16	rights	right	NOUN
fbem-9136	52	17	and	and	CCONJ
fbem-9136	52	18	interests	interest	NOUN
fbem-9136	52	19	in	in	ADP
fbem-9136	52	20	toll	toll	NOUN
fbem-9136	52	21	roads	road	NOUN
fbem-9136	52	22	act	act	NOUN
fbem-9136	52	23	stipulates	stipulate	VERB
fbem-9136	52	24	that	that	SCONJ
fbem-9136	52	25	the	the	DET
fbem-9136	52	26	present	present	ADJ
fbem-9136	52	27	value	value	NOUN
fbem-9136	52	28	of	of	ADP
fbem-9136	52	29	revenue	revenue	NOUN
fbem-9136	52	30	method	method	NOUN
fbem-9136	52	31	shall	shall	AUX
fbem-9136	52	32	be	be	AUX
fbem-9136	52	33	used	use	VERB
fbem-9136	52	34	as	as	ADP
fbem-9136	52	35	the	the	DET
fbem-9136	52	36	valuation	valuation	NOUN
fbem-9136	52	37	method	method	NOUN
fbem-9136	52	38	.	.	PUNCT
fbem-9136	53	1	this	this	PRON
fbem-9136	53	2	does	do	AUX
fbem-9136	53	3	not	not	PART
fbem-9136	53	4	mean	mean	VERB
fbem-9136	53	5	that	that	SCONJ
fbem-9136	53	6	the	the	DET
fbem-9136	53	7	present	present	ADJ
fbem-9136	53	8	value	value	NOUN
fbem-9136	53	9	of	of	ADP
fbem-9136	53	10	revenue	revenue	NOUN
fbem-9136	53	11	method	method	NOUN
fbem-9136	53	12	is	be	AUX
fbem-9136	53	13	perfect	perfect	ADJ
fbem-9136	53	14	in	in	ADP
fbem-9136	53	15	assessing	assess	VERB
fbem-9136	53	16	the	the	DET
fbem-9136	53	17	value	value	NOUN
fbem-9136	53	18	of	of	ADP
fbem-9136	53	19	road	road	NOUN
fbem-9136	53	20	toll	toll	NOUN
fbem-9136	53	21	rights	right	NOUN
fbem-9136	53	22	,	,	PUNCT
fbem-9136	53	23	which	which	PRON
fbem-9136	53	24	is	be	AUX
fbem-9136	53	25	affected	affect	VERB
fbem-9136	53	26	by	by	ADP
fbem-9136	53	27	various	various	ADJ
fbem-9136	53	28	factors	factor	NOUN
fbem-9136	53	29	and	and	CCONJ
fbem-9136	53	30	there	there	PRON
fbem-9136	53	31	are	be	VERB
fbem-9136	53	32	some	some	DET
fbem-9136	53	33	shortcomings	shortcoming	NOUN
fbem-9136	53	34	in	in	ADP
fbem-9136	53	35	the	the	DET
fbem-9136	53	36	application	application	NOUN
fbem-9136	53	37	of	of	ADP
fbem-9136	53	38	the	the	DET
fbem-9136	53	39	revenue	revenue	NOUN
fbem-9136	53	40	method	method	NOUN
fbem-9136	53	41	,	,	PUNCT
fbem-9136	53	42	mainly	mainly	ADV
fbem-9136	53	43	in	in	ADP
fbem-9136	53	44	:	:	PUNCT
fbem-9136	53	45	4.1	4.1	NUM
fbem-9136	53	46	.	.	PUNCT
fbem-9136	54	1	uncertainty	uncertainty	NOUN
fbem-9136	54	2	in	in	ADP
fbem-9136	54	3	the	the	DET
fbem-9136	54	4	choice	choice	NOUN
fbem-9136	54	5	of	of	ADP
fbem-9136	54	6	parameters	parameter	NOUN
fbem-9136	54	7	according	accord	VERB
fbem-9136	54	8	to	to	ADP
fbem-9136	54	9	the	the	DET
fbem-9136	54	10	valuation	valuation	NOUN
fbem-9136	54	11	ideas	idea	NOUN
fbem-9136	54	12	of	of	ADP
fbem-9136	54	13	the	the	DET
fbem-9136	54	14	income	income	NOUN
fbem-9136	54	15	approach	approach	NOUN
fbem-9136	54	16	,	,	PUNCT
fbem-9136	54	17	the	the	DET
fbem-9136	54	18	key	key	ADJ
fbem-9136	54	19	point	point	NOUN
fbem-9136	54	20	in	in	ADP
fbem-9136	54	21	assessing	assess	VERB
fbem-9136	54	22	the	the	DET
fbem-9136	54	23	value	value	NOUN
fbem-9136	54	24	of	of	ADP
fbem-9136	54	25	the	the	DET
fbem-9136	54	26	toll	toll	NOUN
fbem-9136	54	27	rights	right	NOUN
fbem-9136	54	28	is	be	AUX
fbem-9136	54	29	the	the	DET
fbem-9136	54	30	forecast	forecast	NOUN
fbem-9136	54	31	of	of	ADP
fbem-9136	54	32	the	the	DET
fbem-9136	54	33	future	future	ADJ
fbem-9136	54	34	revenue	revenue	NOUN
fbem-9136	54	35	of	of	ADP
fbem-9136	54	36	the	the	DET
fbem-9136	54	37	road	road	NOUN
fbem-9136	54	38	and	and	CCONJ
fbem-9136	54	39	the	the	DET
fbem-9136	54	40	selection	selection	NOUN
fbem-9136	54	41	of	of	ADP
fbem-9136	54	42	the	the	DET
fbem-9136	54	43	financial	financial	ADJ
fbem-9136	54	44	discount	discount	NOUN
fbem-9136	54	45	rate	rate	NOUN
fbem-9136	54	46	,	,	PUNCT
fbem-9136	54	47	and	and	CCONJ
fbem-9136	54	48	the	the	DET
fbem-9136	54	49	determination	determination	NOUN
fbem-9136	54	50	of	of	ADP
fbem-9136	54	51	these	these	DET
fbem-9136	54	52	two	two	NUM
fbem-9136	54	53	factors	factor	NOUN
fbem-9136	54	54	is	be	AUX
fbem-9136	54	55	highly	highly	ADV
fbem-9136	54	56	subjective	subjective	ADJ
fbem-9136	54	57	,	,	PUNCT
fbem-9136	54	58	where	where	SCONJ
fbem-9136	54	59	the	the	DET
fbem-9136	54	60	financial	financial	ADJ
fbem-9136	54	61	discount	discount	NOUN
fbem-9136	54	62	rate	rate	NOUN
fbem-9136	54	63	can	can	AUX
fbem-9136	54	64	be	be	AUX
fbem-9136	54	65	obtained	obtain	VERB
fbem-9136	54	66	indirectly	indirectly	ADV
fbem-9136	54	67	through	through	ADP
fbem-9136	54	68	the	the	DET
fbem-9136	54	69	expected	expect	VERB
fbem-9136	54	70	revenue	revenue	NOUN
fbem-9136	54	71	,	,	PUNCT
fbem-9136	54	72	so	so	SCONJ
fbem-9136	54	73	the	the	DET
fbem-9136	54	74	forecast	forecast	NOUN
fbem-9136	54	75	of	of	ADP
fbem-9136	54	76	the	the	DET
fbem-9136	54	77	revenue	revenue	NOUN
fbem-9136	54	78	becomes	become	VERB
fbem-9136	54	79	the	the	DET
fbem-9136	54	80	most	most	ADV
fbem-9136	54	81	important	important	ADJ
fbem-9136	54	82	.	.	PUNCT
fbem-9136	55	1	in	in	ADP
fbem-9136	55	2	forecasting	forecast	VERB
fbem-9136	55	3	the	the	DET
fbem-9136	55	4	amount	amount	NOUN
fbem-9136	55	5	of	of	ADP
fbem-9136	55	6	return	return	NOUN
fbem-9136	55	7	,	,	PUNCT
fbem-9136	55	8	the	the	DET
fbem-9136	55	9	volume	volume	NOUN
fbem-9136	55	10	of	of	ADP
fbem-9136	55	11	traffic	traffic	NOUN
fbem-9136	55	12	,	,	PUNCT
fbem-9136	55	13	which	which	PRON
fbem-9136	55	14	determines	determine	VERB
fbem-9136	55	15	the	the	DET
fbem-9136	55	16	annual	annual	ADJ
fbem-9136	55	17	net	net	ADJ
fbem-9136	55	18	cash	cash	NOUN
fbem-9136	55	19	inflow	inflow	NOUN
fbem-9136	55	20	,	,	PUNCT
fbem-9136	55	21	is	be	AUX
fbem-9136	55	22	the	the	DET
fbem-9136	55	23	main	main	ADJ
fbem-9136	55	24	factor	factor	NOUN
fbem-9136	55	25	affecting	affect	VERB
fbem-9136	55	26	the	the	DET
fbem-9136	55	27	expected	expect	VERB
fbem-9136	55	28	return	return	NOUN
fbem-9136	55	29	.	.	PUNCT
fbem-9136	56	1	the	the	DET
fbem-9136	56	2	size	size	NOUN
fbem-9136	56	3	of	of	ADP
fbem-9136	56	4	the	the	DET
fbem-9136	56	5	traffic	traffic	NOUN
fbem-9136	56	6	flow	flow	NOUN
fbem-9136	56	7	depends	depend	VERB
fbem-9136	56	8	on	on	ADP
fbem-9136	56	9	the	the	DET
fbem-9136	56	10	level	level	NOUN
fbem-9136	56	11	of	of	ADP
fbem-9136	56	12	economic	economic	ADJ
fbem-9136	56	13	development	development	NOUN
fbem-9136	56	14	of	of	ADP
fbem-9136	56	15	the	the	DET
fbem-9136	56	16	region	region	NOUN
fbem-9136	56	17	and	and	CCONJ
fbem-9136	56	18	the	the	DET
fbem-9136	56	19	status	status	NOUN
fbem-9136	56	20	of	of	ADP
fbem-9136	56	21	the	the	DET
fbem-9136	56	22	road	road	NOUN
fbem-9136	56	23	grade	grade	NOUN
fbem-9136	56	24	,	,	PUNCT
fbem-9136	56	25	and	and	CCONJ
fbem-9136	56	26	the	the	DET
fbem-9136	56	27	level	level	NOUN
fbem-9136	56	28	of	of	ADP
fbem-9136	56	29	economic	economic	ADJ
fbem-9136	56	30	development	development	NOUN
fbem-9136	56	31	depends	depend	VERB
fbem-9136	56	32	to	to	ADP
fbem-9136	56	33	a	a	DET
fbem-9136	56	34	certain	certain	ADJ
fbem-9136	56	35	extent	extent	NOUN
fbem-9136	56	36	on	on	ADP
fbem-9136	56	37	the	the	DET
fbem-9136	56	38	inclination	inclination	NOUN
fbem-9136	56	39	of	of	ADP
fbem-9136	56	40	national	national	ADJ
fbem-9136	56	41	policies	policy	NOUN
fbem-9136	56	42	,	,	PUNCT
fbem-9136	56	43	while	while	SCONJ
fbem-9136	56	44	the	the	DET
fbem-9136	56	45	transfer	transfer	NOUN
fbem-9136	56	46	period	period	NOUN
fbem-9136	56	47	is	be	AUX
fbem-9136	56	48	generally	generally	ADV
fbem-9136	56	49	as	as	ADV
fbem-9136	56	50	long	long	ADJ
fbem-9136	56	51	as	as	ADP
fbem-9136	56	52	20	20	NUM
fbem-9136	56	53	to	to	PART
fbem-9136	56	54	30	30	NUM
fbem-9136	56	55	years	year	NOUN
fbem-9136	56	56	,	,	PUNCT
fbem-9136	56	57	during	during	ADP
fbem-9136	56	58	which	which	PRON
fbem-9136	56	59	the	the	DET
fbem-9136	56	60	state	state	NOUN
fbem-9136	56	61	will	will	AUX
fbem-9136	56	62	introduce	introduce	VERB
fbem-9136	56	63	what	what	PRON
fbem-9136	56	64	kind	kind	NOUN
fbem-9136	56	65	of	of	ADP
fbem-9136	56	66	policies	policy	NOUN
fbem-9136	56	67	,	,	PUNCT
fbem-9136	56	68	highway	highway	NOUN
fbem-9136	56	69	construction	construction	NOUN
fbem-9136	56	70	and	and	CCONJ
fbem-9136	56	71	expansion	expansion	NOUN
fbem-9136	56	72	plans	plan	NOUN
fbem-9136	56	73	are	be	AUX
fbem-9136	56	74	also	also	ADV
fbem-9136	56	75	unknown	unknown	ADJ
fbem-9136	56	76	,	,	PUNCT
fbem-9136	56	77	and	and	CCONJ
fbem-9136	56	78	there	there	PRON
fbem-9136	56	79	is	be	VERB
fbem-9136	56	80	no	no	DET
fbem-9136	56	81	relevant	relevant	ADJ
fbem-9136	56	82	successful	successful	ADJ
fbem-9136	56	83	experience	experience	NOUN
fbem-9136	56	84	for	for	ADP
fbem-9136	56	85	the	the	DET
fbem-9136	56	86	transfer	transfer	NOUN
fbem-9136	56	87	of	of	ADP
fbem-9136	56	88	toll	toll	NOUN
fbem-9136	56	89	rights	right	NOUN
fbem-9136	56	90	to	to	PART
fbem-9136	56	91	learn	learn	VERB
fbem-9136	56	92	from	from	ADP
fbem-9136	56	93	.	.	PUNCT
fbem-9136	57	1	therefore	therefore	ADV
fbem-9136	57	2	,	,	PUNCT
fbem-9136	57	3	how	how	SCONJ
fbem-9136	57	4	to	to	PART
fbem-9136	57	5	accurately	accurately	ADV
fbem-9136	57	6	predict	predict	VERB
fbem-9136	57	7	the	the	DET
fbem-9136	57	8	traffic	traffic	NOUN
fbem-9136	57	9	flow	flow	NOUN
fbem-9136	57	10	is	be	AUX
fbem-9136	57	11	a	a	DET
fbem-9136	57	12	difficult	difficult	ADJ
fbem-9136	57	13	problem	problem	NOUN
fbem-9136	57	14	for	for	ADP
fbem-9136	57	15	the	the	DET
fbem-9136	57	16	present	present	ADJ
fbem-9136	57	17	value	value	NOUN
fbem-9136	57	18	of	of	ADP
fbem-9136	57	19	revenue	revenue	NOUN
fbem-9136	57	20	method	method	NOUN
fbem-9136	57	21	to	to	PART
fbem-9136	57	22	assess	assess	VERB
fbem-9136	57	23	the	the	DET
fbem-9136	57	24	value	value	NOUN
fbem-9136	57	25	of	of	ADP
fbem-9136	57	26	toll	toll	NOUN
fbem-9136	57	27	rights	right	NOUN
fbem-9136	57	28	,	,	PUNCT
fbem-9136	57	29	still	still	ADV
fbem-9136	57	30	need	need	VERB
fbem-9136	57	31	scholars	scholar	NOUN
fbem-9136	57	32	to	to	PART
fbem-9136	57	33	conduct	conduct	VERB
fbem-9136	57	34	in	in	ADP
fbem-9136	57	35	-	-	PUNCT
fbem-9136	57	36	depth	depth	NOUN
fbem-9136	57	37	exploration	exploration	NOUN
fbem-9136	57	38	and	and	CCONJ
fbem-9136	57	39	establish	establish	VERB
fbem-9136	57	40	a	a	DET
fbem-9136	57	41	suitable	suitable	ADJ
fbem-9136	57	42	prediction	prediction	NOUN
fbem-9136	57	43	model	model	NOUN
fbem-9136	57	44	.	.	PUNCT
fbem-9136	58	1	4.2	4.2	NUM
fbem-9136	58	2	.	.	PUNCT
fbem-9136	59	1	the	the	DET
fbem-9136	59	2	relevant	relevant	ADJ
fbem-9136	59	3	system	system	NOUN
fbem-9136	59	4	for	for	ADP
fbem-9136	59	5	income	income	NOUN
fbem-9136	59	6	approach	approach	NOUN
fbem-9136	59	7	valuation	valuation	NOUN
fbem-9136	59	8	has	have	AUX
fbem-9136	59	9	not	not	PART
fbem-9136	59	10	yet	yet	ADV
fbem-9136	59	11	been	be	AUX
fbem-9136	59	12	established	establish	VERB
fbem-9136	59	13	the	the	DET
fbem-9136	59	14	appraisal	appraisal	NOUN
fbem-9136	59	15	of	of	ADP
fbem-9136	59	16	road	road	NOUN
fbem-9136	59	17	toll	toll	NOUN
fbem-9136	59	18	rights	right	NOUN
fbem-9136	59	19	is	be	AUX
fbem-9136	59	20	a	a	DET
fbem-9136	59	21	highly	highly	ADV
fbem-9136	59	22	professional	professional	ADJ
fbem-9136	59	23	appraisal	appraisal	NOUN
fbem-9136	59	24	business	business	NOUN
fbem-9136	59	25	,	,	PUNCT
fbem-9136	59	26	requiring	require	VERB
fbem-9136	59	27	appraisers	appraiser	NOUN
fbem-9136	59	28	to	to	PART
fbem-9136	59	29	be	be	AUX
fbem-9136	59	30	proficient	proficient	ADJ
fbem-9136	59	31	in	in	ADP
fbem-9136	59	32	both	both	DET
fbem-9136	59	33	asset	asset	NOUN
fbem-9136	59	34	appraisal	appraisal	NOUN
fbem-9136	59	35	knowledge	knowledge	NOUN
fbem-9136	59	36	and	and	CCONJ
fbem-9136	59	37	familiar	familiar	ADJ
fbem-9136	59	38	with	with	ADP
fbem-9136	59	39	toll	toll	NOUN
fbem-9136	59	40	road	road	NOUN
fbem-9136	59	41	policies	policy	NOUN
fbem-9136	59	42	.	.	PUNCT
fbem-9136	60	1	in	in	ADP
fbem-9136	60	2	practice	practice	NOUN
fbem-9136	60	3	,	,	PUNCT
fbem-9136	60	4	such	such	ADJ
fbem-9136	60	5	talents	talent	NOUN
fbem-9136	60	6	are	be	AUX
fbem-9136	60	7	few	few	ADJ
fbem-9136	60	8	and	and	CCONJ
fbem-9136	60	9	far	far	ADV
fbem-9136	60	10	between	between	ADV
fbem-9136	60	11	,	,	PUNCT
fbem-9136	60	12	and	and	CCONJ
fbem-9136	60	13	it	it	PRON
fbem-9136	60	14	is	be	AUX
fbem-9136	60	15	difficult	difficult	ADJ
fbem-9136	60	16	for	for	SCONJ
fbem-9136	60	17	general	general	ADJ
fbem-9136	60	18	appraisers	appraiser	NOUN
fbem-9136	60	19	to	to	PART
fbem-9136	60	20	grasp	grasp	VERB
fbem-9136	60	21	the	the	DET
fbem-9136	60	22	uncertainty	uncertainty	NOUN
fbem-9136	60	23	of	of	ADP
fbem-9136	60	24	the	the	DET
fbem-9136	60	25	changing	change	VERB
fbem-9136	60	26	social	social	ADJ
fbem-9136	60	27	situation	situation	NOUN
fbem-9136	60	28	in	in	ADP
fbem-9136	60	29	the	the	DET
fbem-9136	60	30	country	country	NOUN
fbem-9136	60	31	,	,	PUNCT
fbem-9136	60	32	and	and	CCONJ
fbem-9136	60	33	they	they	PRON
fbem-9136	60	34	tend	tend	VERB
fbem-9136	60	35	to	to	PART
fbem-9136	60	36	conduct	conduct	VERB
fbem-9136	60	37	appraisals	appraisal	NOUN
fbem-9136	60	38	based	base	VERB
fbem-9136	60	39	on	on	ADP
fbem-9136	60	40	general	general	ADJ
fbem-9136	60	41	intangible	intangible	ADJ
fbem-9136	60	42	asset	asset	NOUN
fbem-9136	60	43	valuation	valuation	NOUN
fbem-9136	60	44	theories	theory	NOUN
fbem-9136	60	45	.	.	PUNCT
fbem-9136	61	1	in	in	ADP
fbem-9136	61	2	addition	addition	NOUN
fbem-9136	61	3	,	,	PUNCT
fbem-9136	61	4	the	the	DET
fbem-9136	61	5	valuation	valuation	NOUN
fbem-9136	61	6	of	of	ADP
fbem-9136	61	7	road	road	NOUN
fbem-9136	61	8	assets	asset	NOUN
fbem-9136	61	9	in	in	ADP
fbem-9136	61	10	china	china	PROPN
fbem-9136	61	11	has	have	AUX
fbem-9136	61	12	not	not	PART
fbem-9136	61	13	yet	yet	ADV
fbem-9136	61	14	established	establish	VERB
fbem-9136	61	15	the	the	DET
fbem-9136	61	16	relevant	relevant	ADJ
fbem-9136	61	17	normative	normative	ADJ
fbem-9136	61	18	standards	standard	NOUN
fbem-9136	61	19	for	for	ADP
fbem-9136	61	20	the	the	DET
fbem-9136	61	21	valuation	valuation	NOUN
fbem-9136	61	22	of	of	ADP
fbem-9136	61	23	toll	toll	NOUN
fbem-9136	61	24	rights	right	NOUN
fbem-9136	61	25	,	,	PUNCT
fbem-9136	61	26	and	and	CCONJ
fbem-9136	61	27	appraisers	appraiser	NOUN
fbem-9136	61	28	do	do	AUX
fbem-9136	61	29	not	not	PART
fbem-9136	61	30	have	have	VERB
fbem-9136	61	31	a	a	DET
fbem-9136	61	32	reliable	reliable	ADJ
fbem-9136	61	33	theoretical	theoretical	ADJ
fbem-9136	61	34	basis	basis	NOUN
fbem-9136	61	35	to	to	PART
fbem-9136	61	36	support	support	VERB
fbem-9136	61	37	their	their	PRON
fbem-9136	61	38	valuation	valuation	NOUN
fbem-9136	61	39	using	use	VERB
fbem-9136	61	40	the	the	DET
fbem-9136	61	41	income	income	NOUN
fbem-9136	61	42	approach	approach	NOUN
fbem-9136	61	43	,	,	PUNCT
fbem-9136	61	44	which	which	PRON
fbem-9136	61	45	leads	lead	VERB
fbem-9136	61	46	to	to	ADP
fbem-9136	61	47	significant	significant	ADJ
fbem-9136	61	48	differences	difference	NOUN
fbem-9136	61	49	in	in	ADP
fbem-9136	61	50	valuation	valuation	NOUN
fbem-9136	61	51	results	result	NOUN
fbem-9136	61	52	between	between	ADP
fbem-9136	61	53	different	different	ADJ
fbem-9136	61	54	personnel	personnel	NOUN
fbem-9136	61	55	and	and	CCONJ
fbem-9136	61	56	can	can	AUX
fbem-9136	61	57	not	not	PART
fbem-9136	61	58	truly	truly	ADV
fbem-9136	61	59	meet	meet	VERB
fbem-9136	61	60	the	the	DET
fbem-9136	61	61	valuation	valuation	NOUN
fbem-9136	61	62	needs	need	NOUN
fbem-9136	61	63	of	of	ADP
fbem-9136	61	64	both	both	DET
fbem-9136	61	65	parties	party	NOUN
fbem-9136	61	66	to	to	ADP
fbem-9136	61	67	the	the	DET
fbem-9136	61	68	transaction	transaction	NOUN
fbem-9136	61	69	.	.	PUNCT
fbem-9136	62	1	5	5	X
fbem-9136	62	2	.	.	X
fbem-9136	62	3	suggestions	suggestion	NOUN
fbem-9136	62	4	for	for	ADP
fbem-9136	62	5	the	the	DET
fbem-9136	62	6	future	future	ADJ
fbem-9136	62	7	application	application	NOUN
fbem-9136	62	8	of	of	ADP
fbem-9136	62	9	the	the	DET
fbem-9136	62	10	income	income	NOUN
fbem-9136	62	11	approach	approach	NOUN
fbem-9136	62	12	to	to	ADP
fbem-9136	62	13	the	the	DET
fbem-9136	62	14	valuation	valuation	NOUN
fbem-9136	62	15	of	of	ADP
fbem-9136	62	16	road	road	NOUN
fbem-9136	62	17	toll	toll	NOUN
fbem-9136	62	18	rights	right	NOUN
fbem-9136	62	19	5.1	5.1	NUM
fbem-9136	62	20	.	.	PUNCT
fbem-9136	63	1	policy	policy	NOUN
fbem-9136	63	2	recommendations	recommendation	NOUN
fbem-9136	63	3	in	in	ADP
fbem-9136	63	4	view	view	NOUN
fbem-9136	63	5	of	of	ADP
fbem-9136	63	6	the	the	DET
fbem-9136	63	7	fact	fact	NOUN
fbem-9136	63	8	that	that	SCONJ
fbem-9136	63	9	the	the	DET
fbem-9136	63	10	measures	measure	NOUN
fbem-9136	63	11	for	for	ADP
fbem-9136	63	12	the	the	DET
fbem-9136	63	13	transfer	transfer	NOUN
fbem-9136	63	14	of	of	ADP
fbem-9136	63	15	equity	equity	NOUN
fbem-9136	63	16	in	in	ADP
fbem-9136	63	17	toll	toll	NOUN
fbem-9136	63	18	roads	road	NOUN
fbem-9136	63	19	do	do	AUX
fbem-9136	63	20	not	not	PART
fbem-9136	63	21	make	make	VERB
fbem-9136	63	22	detailed	detailed	ADJ
fbem-9136	63	23	provisions	provision	NOUN
fbem-9136	63	24	on	on	ADP
fbem-9136	63	25	the	the	DET
fbem-9136	63	26	valuation	valuation	NOUN
fbem-9136	63	27	of	of	ADP
fbem-9136	63	28	toll	toll	NOUN
fbem-9136	63	29	rights	right	NOUN
fbem-9136	63	30	,	,	PUNCT
fbem-9136	63	31	and	and	CCONJ
fbem-9136	63	32	in	in	ADP
fbem-9136	63	33	view	view	NOUN
fbem-9136	63	34	of	of	ADP
fbem-9136	63	35	the	the	DET
fbem-9136	63	36	current	current	ADJ
fbem-9136	63	37	lack	lack	NOUN
fbem-9136	63	38	of	of	ADP
fbem-9136	63	39	a	a	DET
fbem-9136	63	40	theoretical	theoretical	ADJ
fbem-9136	63	41	system	system	NOUN
fbem-9136	63	42	relating	relate	VERB
fbem-9136	63	43	to	to	ADP
fbem-9136	63	44	toll	toll	NOUN
fbem-9136	63	45	rights	right	NOUN
fbem-9136	63	46	in	in	ADP
fbem-9136	63	47	china	china	PROPN
fbem-9136	63	48	,	,	PUNCT
fbem-9136	63	49	it	it	PRON
fbem-9136	63	50	is	be	AUX
fbem-9136	63	51	suggested	suggest	VERB
fbem-9136	63	52	that	that	SCONJ
fbem-9136	63	53	the	the	DET
fbem-9136	63	54	relevant	relevant	ADJ
fbem-9136	63	55	authorities	authority	NOUN
fbem-9136	63	56	issue	issue	VERB
fbem-9136	63	57	corresponding	correspond	VERB
fbem-9136	63	58	guidelines	guideline	NOUN
fbem-9136	63	59	to	to	PART
fbem-9136	63	60	regulate	regulate	VERB
fbem-9136	63	61	relevant	relevant	ADJ
fbem-9136	63	62	factors	factor	NOUN
fbem-9136	63	63	such	such	ADJ
fbem-9136	63	64	as	as	ADP
fbem-9136	63	65	traffic	traffic	NOUN
fbem-9136	63	66	flow	flow	NOUN
fbem-9136	63	67	forecasts	forecast	NOUN
fbem-9136	63	68	,	,	PUNCT
fbem-9136	63	69	the	the	DET
fbem-9136	63	70	determination	determination	NOUN
fbem-9136	63	71	of	of	ADP
fbem-9136	63	72	financial	financial	ADJ
fbem-9136	63	73	discount	discount	NOUN
fbem-9136	63	74	rates	rate	NOUN
fbem-9136	63	75	and	and	CCONJ
fbem-9136	63	76	the	the	DET
fbem-9136	63	77	determination	determination	NOUN
fbem-9136	63	78	of	of	ADP
fbem-9136	63	79	expected	expect	VERB
fbem-9136	63	80	revenue	revenue	NOUN
fbem-9136	63	81	,	,	PUNCT
fbem-9136	63	82	so	so	SCONJ
fbem-9136	63	83	as	as	SCONJ
fbem-9136	63	84	to	to	PART
fbem-9136	63	85	provide	provide	VERB
fbem-9136	63	86	a	a	DET
fbem-9136	63	87	theoretical	theoretical	ADJ
fbem-9136	63	88	basis	basis	NOUN
fbem-9136	63	89	for	for	ADP
fbem-9136	63	90	appraisers	appraiser	NOUN
fbem-9136	63	91	and	and	CCONJ
fbem-9136	63	92	to	to	PART
fbem-9136	63	93	reduce	reduce	VERB
fbem-9136	63	94	to	to	ADP
fbem-9136	63	95	a	a	DET
fbem-9136	63	96	certain	certain	ADJ
fbem-9136	63	97	extent	extent	NOUN
fbem-9136	63	98	the	the	DET
fbem-9136	63	99	valuation	valuation	NOUN
fbem-9136	63	100	of	of	ADP
fbem-9136	63	101	toll	toll	NOUN
fbem-9136	63	102	rights	right	NOUN
fbem-9136	63	103	the	the	DET
fbem-9136	63	104	government	government	NOUN
fbem-9136	63	105	and	and	CCONJ
fbem-9136	63	106	the	the	DET
fbem-9136	63	107	asset	asset	NOUN
fbem-9136	63	108	appraisal	appraisal	NOUN
fbem-9136	63	109	industry	industry	NOUN
fbem-9136	63	110	should	should	AUX
fbem-9136	63	111	also	also	ADV
fbem-9136	63	112	be	be	AUX
fbem-9136	63	113	consulted	consult	VERB
fbem-9136	63	114	.	.	PUNCT
fbem-9136	64	1	at	at	ADP
fbem-9136	64	2	the	the	DET
fbem-9136	64	3	same	same	ADJ
fbem-9136	64	4	time	time	NOUN
fbem-9136	64	5	,	,	PUNCT
fbem-9136	64	6	it	it	PRON
fbem-9136	64	7	is	be	AUX
fbem-9136	64	8	also	also	ADV
fbem-9136	64	9	necessary	necessary	ADJ
fbem-9136	64	10	for	for	SCONJ
fbem-9136	64	11	the	the	DET
fbem-9136	64	12	government	government	NOUN
fbem-9136	64	13	,	,	PUNCT
fbem-9136	64	14	asset	asset	NOUN
fbem-9136	64	15	valuation	valuation	NOUN
fbem-9136	64	16	groups	group	NOUN
fbem-9136	64	17	and	and	CCONJ
fbem-9136	64	18	other	other	ADJ
fbem-9136	64	19	organisations	organisation	NOUN
fbem-9136	64	20	to	to	PART
fbem-9136	64	21	work	work	VERB
fbem-9136	64	22	together	together	ADV
fbem-9136	64	23	to	to	PART
fbem-9136	64	24	gradually	gradually	ADV
fbem-9136	64	25	establish	establish	VERB
fbem-9136	64	26	relevant	relevant	ADJ
fbem-9136	64	27	laws	law	NOUN
fbem-9136	64	28	and	and	CCONJ
fbem-9136	64	29	regulations	regulation	NOUN
fbem-9136	64	30	for	for	ADP
fbem-9136	64	31	the	the	DET
fbem-9136	64	32	valuation	valuation	NOUN
fbem-9136	64	33	of	of	ADP
fbem-9136	64	34	toll	toll	NOUN
fbem-9136	64	35	rights	right	NOUN
fbem-9136	64	36	,	,	PUNCT
fbem-9136	64	37	to	to	PART
fbem-9136	64	38	regulate	regulate	VERB
fbem-9136	64	39	the	the	DET
fbem-9136	64	40	order	order	NOUN
fbem-9136	64	41	of	of	ADP
fbem-9136	64	42	the	the	DET
fbem-9136	64	43	toll	toll	NOUN
fbem-9136	64	44	rights	right	NOUN
fbem-9136	64	45	valuation	valuation	NOUN
fbem-9136	64	46	market	market	NOUN
fbem-9136	64	47	,	,	PUNCT
fbem-9136	64	48	to	to	PART
fbem-9136	64	49	strengthen	strengthen	VERB
fbem-9136	64	50	government	government	NOUN
fbem-9136	64	51	supervision	supervision	NOUN
fbem-9136	64	52	and	and	CCONJ
fbem-9136	64	53	to	to	PART
fbem-9136	64	54	prevent	prevent	VERB
fbem-9136	64	55	the	the	DET
fbem-9136	64	56	loss	loss	NOUN
fbem-9136	64	57	of	of	ADP
fbem-9136	64	58	state	state	NOUN
fbem-9136	64	59	-	-	PUNCT
fbem-9136	64	60	owned	own	VERB
fbem-9136	64	61	assets	asset	NOUN
fbem-9136	64	62	.	.	PUNCT
fbem-9136	65	1	in	in	ADP
fbem-9136	65	2	addition	addition	NOUN
fbem-9136	65	3	to	to	ADP
fbem-9136	65	4	regulating	regulate	VERB
fbem-9136	65	5	theoretical	theoretical	ADJ
fbem-9136	65	6	and	and	CCONJ
fbem-9136	65	7	methodological	methodological	ADJ
fbem-9136	65	8	approaches	approach	NOUN
fbem-9136	65	9	to	to	ADP
fbem-9136	65	10	asset	asset	NOUN
fbem-9136	65	11	valuation	valuation	NOUN
fbem-9136	65	12	,	,	PUNCT
fbem-9136	65	13	china	china	PROPN
fbem-9136	65	14	also	also	ADV
fbem-9136	65	15	urgently	urgently	ADV
fbem-9136	65	16	needs	need	VERB
fbem-9136	65	17	to	to	PART
fbem-9136	65	18	cultivate	cultivate	VERB
fbem-9136	65	19	relevant	relevant	ADJ
fbem-9136	65	20	professional	professional	ADJ
fbem-9136	65	21	and	and	CCONJ
fbem-9136	65	22	technical	technical	ADJ
fbem-9136	65	23	valuation	valuation	NOUN
fbem-9136	65	24	talents	talent	NOUN
fbem-9136	65	25	.	.	PUNCT
fbem-9136	66	1	consideration	consideration	NOUN
fbem-9136	66	2	can	can	AUX
fbem-9136	66	3	be	be	AUX
fbem-9136	66	4	given	give	VERB
fbem-9136	66	5	to	to	ADP
fbem-9136	66	6	establishing	establish	VERB
fbem-9136	66	7	a	a	DET
fbem-9136	66	8	nationwide	nationwide	ADJ
fbem-9136	66	9	professional	professional	ADJ
fbem-9136	66	10	and	and	CCONJ
fbem-9136	66	11	technical	technical	ADJ
fbem-9136	66	12	qualification	qualification	NOUN
fbem-9136	66	13	examination	examination	NOUN
fbem-9136	66	14	system	system	NOUN
fbem-9136	66	15	for	for	ADP
fbem-9136	66	16	the	the	DET
fbem-9136	66	17	valuation	valuation	NOUN
fbem-9136	66	18	of	of	ADP
fbem-9136	66	19	road	road	NOUN
fbem-9136	66	20	toll	toll	NOUN
fbem-9136	66	21	rights	right	NOUN
fbem-9136	66	22	,	,	PUNCT
fbem-9136	66	23	so	so	SCONJ
fbem-9136	66	24	as	as	SCONJ
fbem-9136	66	25	to	to	PART
fbem-9136	66	26	implement	implement	VERB
fbem-9136	66	27	qualification	qualification	NOUN
fbem-9136	66	28	management	management	NOUN
fbem-9136	66	29	for	for	ADP
fbem-9136	66	30	valuation	valuation	NOUN
fbem-9136	66	31	personnel	personnel	NOUN
fbem-9136	66	32	and	and	CCONJ
fbem-9136	66	33	ensure	ensure	VERB
fbem-9136	66	34	professionalism	professionalism	NOUN
fbem-9136	66	35	and	and	CCONJ
fbem-9136	66	36	technicality	technicality	NOUN
fbem-9136	66	37	in	in	ADP
fbem-9136	66	38	the	the	DET
fbem-9136	66	39	valuation	valuation	NOUN
fbem-9136	66	40	of	of	ADP
fbem-9136	66	41	road	road	NOUN
fbem-9136	66	42	toll	toll	NOUN
fbem-9136	66	43	rights	right	NOUN
fbem-9136	66	44	.	.	PUNCT
fbem-9136	67	1	5.2	5.2	NUM
fbem-9136	67	2	.	.	PUNCT
fbem-9136	68	1	technical	technical	ADJ
fbem-9136	68	2	recommendations	recommendation	NOUN
fbem-9136	68	3	the	the	DET
fbem-9136	68	4	establishment	establishment	NOUN
fbem-9136	68	5	of	of	ADP
fbem-9136	68	6	the	the	DET
fbem-9136	68	7	relevant	relevant	ADJ
fbem-9136	68	8	institutional	institutional	ADJ
fbem-9136	68	9	system	system	NOUN
fbem-9136	68	10	requires	require	VERB
fbem-9136	68	11	a	a	DET
fbem-9136	68	12	long	long	ADJ
fbem-9136	68	13	-	-	PUNCT
fbem-9136	68	14	term	term	NOUN
fbem-9136	68	15	process	process	NOUN
fbem-9136	68	16	and	and	CCONJ
fbem-9136	68	17	can	can	AUX
fbem-9136	68	18	not	not	PART
fbem-9136	68	19	be	be	AUX
fbem-9136	68	20	achieved	achieve	VERB
fbem-9136	68	21	overnight	overnight	ADV
fbem-9136	68	22	.	.	PUNCT
fbem-9136	69	1	therefore	therefore	ADV
fbem-9136	69	2	,	,	PUNCT
fbem-9136	69	3	considering	consider	VERB
fbem-9136	69	4	the	the	DET
fbem-9136	69	5	current	current	ADJ
fbem-9136	69	6	valuation	valuation	NOUN
fbem-9136	69	7	needs	need	NOUN
fbem-9136	69	8	,	,	PUNCT
fbem-9136	69	9	we	we	PRON
fbem-9136	69	10	can	can	AUX
fbem-9136	69	11	first	first	ADV
fbem-9136	69	12	make	make	VERB
fbem-9136	69	13	improvements	improvement	NOUN
fbem-9136	69	14	in	in	ADP
fbem-9136	69	15	the	the	DET
fbem-9136	69	16	valuation	valuation	NOUN
fbem-9136	69	17	techniques	technique	NOUN
fbem-9136	69	18	.	.	PUNCT
fbem-9136	70	1	in	in	ADP
fbem-9136	70	2	assessing	assess	VERB
fbem-9136	70	3	the	the	DET
fbem-9136	70	4	value	value	NOUN
fbem-9136	70	5	of	of	ADP
fbem-9136	70	6	road	road	NOUN
fbem-9136	70	7	toll	toll	NOUN
fbem-9136	70	8	rights	right	NOUN
fbem-9136	70	9	using	use	VERB
fbem-9136	70	10	the	the	DET
fbem-9136	70	11	income	income	NOUN
fbem-9136	70	12	approach	approach	NOUN
fbem-9136	70	13	,	,	PUNCT
fbem-9136	70	14	the	the	DET
fbem-9136	70	15	result	result	NOUN
fbem-9136	70	16	obtained	obtain	VERB
fbem-9136	70	17	can	can	AUX
fbem-9136	70	18	not	not	PART
fbem-9136	70	19	be	be	AUX
fbem-9136	70	20	equal	equal	ADJ
fbem-9136	70	21	to	to	ADP
fbem-9136	70	22	the	the	DET
fbem-9136	70	23	actual	actual	ADJ
fbem-9136	70	24	value	value	NOUN
fbem-9136	70	25	of	of	ADP
fbem-9136	70	26	the	the	DET
fbem-9136	70	27	toll	toll	NOUN
fbem-9136	70	28	rights	right	NOUN
fbem-9136	70	29	,	,	PUNCT
fbem-9136	70	30	but	but	CCONJ
fbem-9136	70	31	can	can	AUX
fbem-9136	70	32	only	only	ADV
fbem-9136	70	33	be	be	AUX
fbem-9136	70	34	an	an	DET
fbem-9136	70	35	approximate	approximate	ADJ
fbem-9136	70	36	figure	figure	NOUN
fbem-9136	70	37	.	.	PUNCT
fbem-9136	71	1	in	in	ADP
fbem-9136	71	2	the	the	DET
fbem-9136	71	3	author	author	NOUN
fbem-9136	71	4	's	's	PART
fbem-9136	71	5	view	view	NOUN
fbem-9136	71	6	,	,	PUNCT
fbem-9136	71	7	a	a	DET
fbem-9136	71	8	benchmark	benchmark	NOUN
fbem-9136	71	9	floating	float	VERB
fbem-9136	71	10	ratio	ratio	NOUN
fbem-9136	71	11	can	can	AUX
fbem-9136	71	12	be	be	AUX
fbem-9136	71	13	introduced	introduce	VERB
fbem-9136	71	14	when	when	SCONJ
fbem-9136	71	15	using	use	VERB
fbem-9136	71	16	the	the	DET
fbem-9136	71	17	present	present	ADJ
fbem-9136	71	18	value	value	NOUN
fbem-9136	71	19	of	of	ADP
fbem-9136	71	20	income	income	NOUN
fbem-9136	71	21	approach	approach	NOUN
fbem-9136	71	22	to	to	PART
fbem-9136	71	23	make	make	VERB
fbem-9136	71	24	the	the	DET
fbem-9136	71	25	assessment	assessment	NOUN
fbem-9136	71	26	result	result	VERB
fbem-9136	71	27	more	more	ADV
fbem-9136	71	28	in	in	ADP
fbem-9136	71	29	line	line	NOUN
fbem-9136	71	30	with	with	ADP
fbem-9136	71	31	the	the	DET
fbem-9136	71	32	actual	actual	ADJ
fbem-9136	71	33	.	.	PUNCT
fbem-9136	72	1	the	the	DET
fbem-9136	72	2	benchmark	benchmark	NOUN
fbem-9136	72	3	floating	float	VERB
fbem-9136	72	4	ratio	ratio	NOUN
fbem-9136	72	5	is	be	AUX
fbem-9136	72	6	determined	determine	VERB
fbem-9136	72	7	by	by	ADP
fbem-9136	72	8	experienced	experienced	ADJ
fbem-9136	72	9	appraisers	appraiser	NOUN
fbem-9136	72	10	based	base	VERB
fbem-9136	72	11	on	on	ADP
fbem-9136	72	12	a	a	DET
fbem-9136	72	13	large	large	ADJ
fbem-9136	72	14	amount	amount	NOUN
fbem-9136	72	15	of	of	ADP
fbem-9136	72	16	historical	historical	ADJ
fbem-9136	72	17	appraisal	appraisal	NOUN
fbem-9136	72	18	data	datum	NOUN
fbem-9136	72	19	and	and	CCONJ
fbem-9136	72	20	should	should	AUX
fbem-9136	72	21	be	be	AUX
fbem-9136	72	22	fixed	fix	VERB
fbem-9136	72	23	and	and	CCONJ
fbem-9136	72	24	very	very	ADV
fbem-9136	72	25	small	small	ADJ
fbem-9136	72	26	,	,	PUNCT
fbem-9136	72	27	e.g.	e.g.	ADV
fbem-9136	73	1	±10	±10	NOUN
fbem-9136	73	2	%	%	NOUN
fbem-9136	73	3	.	.	PUNCT
fbem-9136	74	1	so	so	ADV
fbem-9136	74	2	how	how	SCONJ
fbem-9136	74	3	should	should	AUX
fbem-9136	74	4	111	111	NUM
fbem-9136	74	5	the	the	DET
fbem-9136	74	6	benchmark	benchmark	NOUN
fbem-9136	74	7	float	float	NOUN
fbem-9136	74	8	be	be	AUX
fbem-9136	74	9	determined	determine	VERB
fbem-9136	74	10	in	in	ADP
fbem-9136	74	11	practice	practice	NOUN
fbem-9136	74	12	?	?	PUNCT
fbem-9136	75	1	in	in	ADP
fbem-9136	75	2	the	the	DET
fbem-9136	75	3	author	author	NOUN
fbem-9136	75	4	's	's	PART
fbem-9136	75	5	view	view	NOUN
fbem-9136	75	6	,	,	PUNCT
fbem-9136	75	7	it	it	PRON
fbem-9136	75	8	is	be	AUX
fbem-9136	75	9	inappropriate	inappropriate	ADJ
fbem-9136	75	10	for	for	ADP
fbem-9136	75	11	either	either	DET
fbem-9136	75	12	party	party	NOUN
fbem-9136	75	13	to	to	ADP
fbem-9136	75	14	the	the	DET
fbem-9136	75	15	transaction	transaction	NOUN
fbem-9136	75	16	to	to	PART
fbem-9136	75	17	determine	determine	VERB
fbem-9136	75	18	it	it	PRON
fbem-9136	75	19	.	.	PUNCT
fbem-9136	76	1	it	it	PRON
fbem-9136	76	2	can	can	AUX
fbem-9136	76	3	be	be	AUX
fbem-9136	76	4	determined	determine	VERB
fbem-9136	76	5	by	by	ADP
fbem-9136	76	6	government	government	NOUN
fbem-9136	76	7	departments	department	NOUN
fbem-9136	76	8	on	on	ADP
fbem-9136	76	9	the	the	DET
fbem-9136	76	10	basis	basis	NOUN
fbem-9136	76	11	of	of	ADP
fbem-9136	76	12	consultation	consultation	NOUN
fbem-9136	76	13	with	with	ADP
fbem-9136	76	14	all	all	DET
fbem-9136	76	15	parties	party	NOUN
fbem-9136	76	16	,	,	PUNCT
fbem-9136	76	17	and	and	CCONJ
fbem-9136	76	18	each	each	DET
fbem-9136	76	19	appraisal	appraisal	NOUN
fbem-9136	76	20	agency	agency	NOUN
fbem-9136	76	21	will	will	AUX
fbem-9136	76	22	choose	choose	VERB
fbem-9136	76	23	a	a	DET
fbem-9136	76	24	suitable	suitable	ADJ
fbem-9136	76	25	range	range	NOUN
fbem-9136	76	26	within	within	ADP
fbem-9136	76	27	that	that	DET
fbem-9136	76	28	range	range	NOUN
fbem-9136	76	29	for	for	ADP
fbem-9136	76	30	the	the	DET
fbem-9136	76	31	actual	actual	ADJ
fbem-9136	76	32	situation	situation	NOUN
fbem-9136	76	33	.	.	PUNCT
fbem-9136	77	1	6	6	X
fbem-9136	77	2	.	.	X
fbem-9136	77	3	conclusion	conclusion	NOUN
fbem-9136	77	4	this	this	DET
fbem-9136	77	5	paper	paper	NOUN
fbem-9136	77	6	addresses	address	VERB
fbem-9136	77	7	the	the	DET
fbem-9136	77	8	specificities	specificity	NOUN
fbem-9136	77	9	of	of	ADP
fbem-9136	77	10	valuing	value	VERB
fbem-9136	77	11	road	road	NOUN
fbem-9136	77	12	toll	toll	NOUN
fbem-9136	77	13	rights	right	NOUN
fbem-9136	77	14	,	,	PUNCT
fbem-9136	77	15	explains	explain	VERB
fbem-9136	77	16	the	the	DET
fbem-9136	77	17	specific	specific	ADJ
fbem-9136	77	18	application	application	NOUN
fbem-9136	77	19	of	of	ADP
fbem-9136	77	20	the	the	DET
fbem-9136	77	21	present	present	ADJ
fbem-9136	77	22	value	value	NOUN
fbem-9136	77	23	of	of	ADP
fbem-9136	77	24	earnings	earning	NOUN
fbem-9136	77	25	method	method	NOUN
fbem-9136	77	26	in	in	ADP
fbem-9136	77	27	its	its	PRON
fbem-9136	77	28	valuation	valuation	NOUN
fbem-9136	77	29	,	,	PUNCT
fbem-9136	77	30	and	and	CCONJ
fbem-9136	77	31	puts	put	VERB
fbem-9136	77	32	forward	forward	ADV
fbem-9136	77	33	policy	policy	NOUN
fbem-9136	77	34	and	and	CCONJ
fbem-9136	77	35	technical	technical	ADJ
fbem-9136	77	36	recommendations	recommendation	NOUN
fbem-9136	77	37	to	to	PART
fbem-9136	77	38	address	address	VERB
fbem-9136	77	39	the	the	DET
fbem-9136	77	40	shortcomings	shortcoming	NOUN
fbem-9136	77	41	of	of	ADP
fbem-9136	77	42	the	the	DET
fbem-9136	77	43	earnings	earning	NOUN
fbem-9136	77	44	method	method	NOUN
fbem-9136	77	45	of	of	ADP
fbem-9136	77	46	valuation	valuation	NOUN
fbem-9136	77	47	.	.	PUNCT
fbem-9136	78	1	through	through	ADP
fbem-9136	78	2	the	the	DET
fbem-9136	78	3	discussion	discussion	NOUN
fbem-9136	78	4	in	in	ADP
fbem-9136	78	5	this	this	DET
fbem-9136	78	6	paper	paper	NOUN
fbem-9136	78	7	,	,	PUNCT
fbem-9136	78	8	we	we	PRON
fbem-9136	78	9	hope	hope	VERB
fbem-9136	78	10	to	to	PART
fbem-9136	78	11	provide	provide	VERB
fbem-9136	78	12	some	some	DET
fbem-9136	78	13	reference	reference	NOUN
fbem-9136	78	14	for	for	ADP
fbem-9136	78	15	related	related	ADJ
fbem-9136	78	16	research	research	NOUN
fbem-9136	78	17	.	.	PUNCT
fbem-9136	79	1	in	in	ADP
fbem-9136	79	2	the	the	DET
fbem-9136	79	3	future	future	NOUN
fbem-9136	79	4	,	,	PUNCT
fbem-9136	79	5	we	we	PRON
fbem-9136	79	6	still	still	ADV
fbem-9136	79	7	need	need	VERB
fbem-9136	79	8	to	to	PART
fbem-9136	79	9	continue	continue	VERB
fbem-9136	79	10	to	to	PART
fbem-9136	79	11	conduct	conduct	VERB
fbem-9136	79	12	indepth	indepth	ADJ
fbem-9136	79	13	exploration	exploration	NOUN
fbem-9136	79	14	and	and	CCONJ
fbem-9136	79	15	research	research	NOUN
fbem-9136	79	16	to	to	PART
fbem-9136	79	17	find	find	VERB
fbem-9136	79	18	long	long	ADJ
fbem-9136	79	19	-	-	PUNCT
fbem-9136	79	20	term	term	NOUN
fbem-9136	79	21	effective	effective	ADJ
fbem-9136	79	22	ways	way	NOUN
fbem-9136	79	23	to	to	PART
fbem-9136	79	24	protect	protect	VERB
fbem-9136	79	25	the	the	DET
fbem-9136	79	26	rights	right	NOUN
fbem-9136	79	27	and	and	CCONJ
fbem-9136	79	28	interests	interest	NOUN
fbem-9136	79	29	of	of	ADP
fbem-9136	79	30	both	both	DET
fbem-9136	79	31	assignees	assignee	NOUN
fbem-9136	79	32	to	to	ADP
fbem-9136	79	33	a	a	DET
fbem-9136	79	34	certain	certain	ADJ
fbem-9136	79	35	extent	extent	NOUN
fbem-9136	79	36	,	,	PUNCT
fbem-9136	79	37	balance	balance	VERB
fbem-9136	79	38	the	the	DET
fbem-9136	79	39	risks	risk	NOUN
fbem-9136	79	40	of	of	ADP
fbem-9136	79	41	both	both	DET
fbem-9136	79	42	parties	party	NOUN
fbem-9136	79	43	,	,	PUNCT
fbem-9136	79	44	and	and	CCONJ
fbem-9136	79	45	provide	provide	VERB
fbem-9136	79	46	ideas	idea	NOUN
fbem-9136	79	47	for	for	ADP
fbem-9136	79	48	the	the	DET
fbem-9136	79	49	establishment	establishment	NOUN
fbem-9136	79	50	of	of	ADP
fbem-9136	79	51	a	a	DET
fbem-9136	79	52	standardised	standardised	ADJ
fbem-9136	79	53	system	system	NOUN
fbem-9136	79	54	for	for	ADP
fbem-9136	79	55	the	the	DET
fbem-9136	79	56	valuation	valuation	NOUN
fbem-9136	79	57	of	of	ADP
fbem-9136	79	58	fee	fee	NOUN
fbem-9136	79	59	rights	right	NOUN
fbem-9136	79	60	in	in	ADP
fbem-9136	79	61	the	the	DET
fbem-9136	79	62	future	future	NOUN
fbem-9136	79	63	.	.	PUNCT
fbem-9136	80	1	references	reference	NOUN
fbem-9136	80	2	[	[	X
fbem-9136	80	3	1	1	NUM
fbem-9136	80	4	]	]	X
fbem-9136	80	5	ministry	ministry	NOUN
fbem-9136	80	6	of	of	ADP
fbem-9136	80	7	transport	transport	NOUN
fbem-9136	80	8	of	of	ADP
fbem-9136	80	9	the	the	DET
fbem-9136	80	10	people	people	NOUN
fbem-9136	80	11	's	's	PART
fbem-9136	80	12	republic	republic	NOUN
fbem-9136	80	13	of	of	ADP
fbem-9136	80	14	china	china	PROPN
fbem-9136	80	15	.	.	PUNCT
fbem-9136	81	1	measures	measure	NOUN
fbem-9136	81	2	for	for	ADP
fbem-9136	81	3	the	the	DET
fbem-9136	81	4	transfer	transfer	NOUN
fbem-9136	81	5	of	of	ADP
fbem-9136	81	6	interests	interest	NOUN
fbem-9136	81	7	in	in	ADP
fbem-9136	81	8	toll	toll	NOUN
fbem-9136	81	9	roads	road	NOUN
fbem-9136	81	10	.	.	PUNCT
fbem-9136	82	1	order	order	NOUN
fbem-9136	82	2	no	no	INTJ
fbem-9136	82	3	.	.	NOUN
fbem-9136	82	4	11	11	NUM
fbem-9136	82	5	of	of	ADP
fbem-9136	82	6	2008	2008	NUM
fbem-9136	82	7	.	.	PUNCT
fbem-9136	83	1	[	[	X
fbem-9136	83	2	2	2	NUM
fbem-9136	83	3	]	]	PUNCT
fbem-9136	83	4	xu	xu	PROPN
fbem-9136	83	5	haicheng	haicheng	PROPN
fbem-9136	83	6	.	.	PROPN
fbem-9136	83	7	and	and	CCONJ
fbem-9136	83	8	li	li	PROPN
fbem-9136	83	9	qing,“deficiencies	qing,“deficiencie	NOUN
fbem-9136	83	10	of	of	ADP
fbem-9136	83	11	the	the	DET
fbem-9136	83	12	revenue	revenue	NOUN
fbem-9136	83	13	method	method	NOUN
fbem-9136	83	14	of	of	ADP
fbem-9136	83	15	assessing	assess	VERB
fbem-9136	83	16	road	road	NOUN
fbem-9136	83	17	toll	toll	NOUN
fbem-9136	83	18	rights	right	NOUN
fbem-9136	83	19	and	and	CCONJ
fbem-9136	83	20	its	its	PRON
fbem-9136	83	21	countermeasure	countermeasure	NOUN
fbem-9136	83	22	suggestions	suggestion	NOUN
fbem-9136	83	23	,	,	PUNCT
fbem-9136	83	24	”	"	PUNCT
fbem-9136	83	25	in	in	ADP
fbem-9136	83	26	2011	2011	NUM
fbem-9136	83	27	price	price	NOUN
fbem-9136	83	28	theory	theory	NOUN
fbem-9136	83	29	and	and	CCONJ
fbem-9136	83	30	practice	practice	NOUN
fbem-9136	83	31	,	,	PUNCT
fbem-9136	83	32	pp	pp	ADJ
fbem-9136	83	33	.	.	PUNCT
fbem-9136	84	1	36	36	NUM
fbem-9136	84	2	-	-	SYM
fbem-9136	84	3	37	37	NUM
fbem-9136	84	4	.	.	PUNCT
fbem-9136	85	1	[	[	X
fbem-9136	85	2	3	3	NUM
fbem-9136	85	3	]	]	X
fbem-9136	85	4	dong	dong	PROPN
fbem-9136	85	5	mei	mei	PROPN
fbem-9136	85	6	,	,	PUNCT
fbem-9136	85	7	“	"	PUNCT
fbem-9136	85	8	defects	defect	NOUN
fbem-9136	85	9	of	of	ADP
fbem-9136	85	10	the	the	DET
fbem-9136	85	11	revenue	revenue	NOUN
fbem-9136	85	12	method	method	NOUN
fbem-9136	85	13	in	in	ADP
fbem-9136	85	14	assessing	assess	VERB
fbem-9136	85	15	road	road	NOUN
fbem-9136	85	16	toll	toll	NOUN
fbem-9136	85	17	rights	right	NOUN
fbem-9136	85	18	and	and	CCONJ
fbem-9136	85	19	its	its	PRON
fbem-9136	85	20	countermeasure	countermeasure	NOUN
fbem-9136	85	21	suggestion	suggestion	NOUN
fbem-9136	85	22	,	,	PUNCT
fbem-9136	85	23	”	"	PUNCT
fbem-9136	85	24	in	in	ADP
fbem-9136	85	25	2016	2016	NUM
fbem-9136	85	26	chinese	chinese	ADJ
fbem-9136	85	27	and	and	CCONJ
fbem-9136	85	28	foreign	foreign	ADJ
fbem-9136	85	29	entrepreneurs	entrepreneur	NOUN
fbem-9136	85	30	,	,	PUNCT
fbem-9136	85	31	pp	pp	ADP
fbem-9136	85	32	.	.	PUNCT
fbem-9136	86	1	221	221	NUM
fbem-9136	86	2	-	-	SYM
fbem-9136	86	3	222	222	NUM
fbem-9136	86	4	.	.	PUNCT
fbem-9136	87	1	[	[	X
fbem-9136	87	2	4	4	NUM
fbem-9136	87	3	]	]	X
fbem-9136	87	4	zhao	zhao	PROPN
fbem-9136	87	5	limei	limei	PROPN
fbem-9136	87	6	,	,	PUNCT
fbem-9136	87	7	“	"	PUNCT
fbem-9136	87	8	research	research	NOUN
fbem-9136	87	9	on	on	ADP
fbem-9136	87	10	the	the	DET
fbem-9136	87	11	application	application	NOUN
fbem-9136	87	12	of	of	ADP
fbem-9136	87	13	income	income	NOUN
fbem-9136	87	14	method	method	NOUN
fbem-9136	87	15	in	in	ADP
fbem-9136	87	16	the	the	DET
fbem-9136	87	17	valuation	valuation	NOUN
fbem-9136	87	18	of	of	ADP
fbem-9136	87	19	road	road	NOUN
fbem-9136	87	20	toll	toll	NOUN
fbem-9136	87	21	rights,”in	rights,”in	ADJ
fbem-9136	87	22	2018	2018	NUM
fbem-9136	87	23	.	.	PUNCT