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NOTE 15: FAIR VALUE OF FINANCIAL INSTRUMENTS The fair value of our long-term debt was $7.6 billion as of December 30, 2007. This included: • $6.8 billion of Weyerhaeuser long-term debt; and • $778 million of Real Estate long-term debt. To estimate the fair value of long-term debt, we use either of these two measures: • quoted market prices for the same types and issues of debt; or • discounted value of the future cash flows using market yields for the same type and comparable issues of debt. Fair Value and Carrying Value of Our Long-Term Debt  |