(1) The income indicator may be determined by consideration of one or more of the following methods depending on the department's analysis of the future earning capacity of the company:

(a) capitalization of the company's historic income or average of historic incomes;

(b) capitalization of a projected level of income;

(c) discounted cash flow analysis;

(d) other accepted method.

(2) The capitalization rate utilized will be determined by the band of investment theory or other accepted methodology.