Tolvane is estimating the net disposal cash flow of a folding machine that will be sold at the end of its useful life, in eight years. Its analyst: (A) starts from the amount that knowledgeable, willing parties would obtain in a disposal; (B) adjusts this price for the expected effects of general and specific future price changes up to the disposal date; (C) uses as a basis the current price of an identical new folding machine; (D) deducts the estimated costs of disposal. Which step is wrong?
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