Cameron W. Bommer Revocable Trust, Ronald Bommer, Trustee - Page 44

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            $15,105.74 per share for gift tax purposes.  The original Buy-Sell                          
            Agreement was entered into in May 1975 and set the price for CamVic                         
            stock at $11,333.30 per share.  Neither petitioners nor their expert                        
            gave any explanation for the approximately $4,000 (or greater than                          
            25 percent) decline in the value of CamVic stock between 1974 and                           
            1975.  Moreover, following our review of the record, we have also                           
            been unable to find any reason--outside of estate tax planning--to                          
            justify such a decline in value.                                                            
                  We conclude that petitioners have not met their burden of                             
            proving that the price per share set forth in the Buy-Sell Agreement                        
            or the Revised Agreement reflected adequate and full consideration                          
            for decedent's interest in CamVic stock.33  Estate of Gloeckner v.                          
            Commissioner, T.C. Memo. 1996-148; Estate of Lauder v. Commissioner,                        
            T.C. Memo. 1992-736.  Thus, we hold that the fixed price of                                 
            $11,333.30 price per share set forth in both agreements is not                              
            binding for estate tax purposes.  As a result of our decision,                              
            further proceedings will be necessary to determine the actual fair                          
            market value of CamVic stock at the time of decedent's death on                             
            September 10, 1990.                                                                         


                                                       Appropriate orders will                          
                                          be issued.                                                    



                  33Even petitioners' expert determined that the value of                               
            CamVic's stock exceeded $11,333.30 per share as of April 1981.                              




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