Estate of Golda E. Rixon Kokernot, Deceased, Mary Ann K. Lacy, Executrix - Page 7

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          new factual issues that would require additional evidence                   
          including, perhaps, expert testimony.  Respondent maintains that            
          the settlement agreement filed with the Court on July 3, 1995,              
          incorporates the full terms of the parties' agreement and that              
          the agreement speaks for itself.  Since the deficiency notice,              
          the petition and other pleadings, and the settlement document are           
          all silent with respect to the application of section 2032A,                
          respondent contends, Executrix is not entitled to the benefits of           
          that section and the regulations thereunder.                                
               Executrix argues that the parties' stipulation of settlement           
          encompasses only those issues raised in the notice of deficiency,           
          i.e., the fair market value of the Ranch.  Executrix contends               
          that the settlement agreement covered neither the amount of the             
          deficiency, nor its computation.  Executrix maintains that the              
          estate's use of section 2032A is a "mechanical computation", and            
          that Executrix's election of that section's provisions is                   
          necessarily dependent on the fair market value of all of the                
          decedent's property, as finally determined or agreed to following           
          an examination of the return.  Executrix argues that respondent's           
          failure to consider the possible impact of Executrix's protective           
          election during the settlement negotiations does not constitute a           

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