In the September 2013 issue of Business Valuation Update™, experts Robert Dohmeyer, Peter Butler, and Rod Burkert laid out a new approach to cost of capital estimation for private businesses whose revenues are less than $10 million. Their model, the implied private company pricing line, seeks to eliminate "pitfalls for unsystematic risk, liquidity, small stock premium, PTE taxes, and cash/leverage by utilizing real transaction market-clearing prices between buyers and sellers of comparable small private businesses." In their webinar of the same name, Dohmeyer and Burkert present their model in an expanded, interactive format.