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of <h1>Defining 'Open Market Value' & 'Supply of Like Kind' for Unrelated Parties in Transactions</h1> For the purposes of this Chapter, the 'open market value' of a supply refers to the total monetary value, excluding various taxes, in a transaction between unrelated parties where price is the sole consideration. The 'supply of goods or services or both of like kind and quality' is defined as a supply under similar circumstances with characteristics, quality, quantity, functional components, materials, and reputation that are the same as or closely resemble the initial supply.
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