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The BLS and Marshall & Swift have indicated to Board staff that their indexes attempt to track price changes for an identical product sold under identical terms over time, such that the indexes approximate an estimate of reproduction cost new.

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Abstract. Marshall & Swift Equipment Cost Index was created to make comparisons between two former quarters or years. Index comparisons are developed by dividing the index for the date for which a cost is desired by the index for the date of the known cost and multiplying the resulting factor by the known cost.

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