- 14 -14
$650,000, and $700,000-$800,000 for the fiscal years ending 1990,
1991, and 1992, respectively.
C. Discussion
We have not found the opinion of either expert convincing.
It is not at all clear that the "comparable" companies used in
their analyses are comparable to petitioner. In addition,
neither expert focused on the duties that Ferguson actually
performed. The appropriate comparison is to the duties the
employee actually rendered rather than the titles held. See
Trinity Quarries, Inc. v. United States, 679 F.2d 205, 211 (11th
Cir. 1982). Thus, the usefulness of their analyses to determine
the "amount as would ordinarily be paid for like services by like
enterprises under like circumstances" is doubtful. Sec. 1.162-
7(b)(3), Income Tax Regs.
Otto testified that he considered the 12 companies he
selected to be comparable regarding return on equity and return
on assets, but he did not consider the companies necessarily
comparable with regard to overall sales or net asset value.
Furthermore, several of the companies that petitioner's expert
considered comparable to petitioner were conglomerates with
several lines of business, only one of which was similar to the
business operated by petitioner. We note also that in 1990,
Ferguson's total compensation (sales commissions, salary, and
bonus) exceeded the compensation paid to each of the CEO's of the
12 companies that petitioner's expert selected as comparable
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