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Appraisers, Inc., and Mr. Stockdale to appraise the subject
property, Rachor, Purman's services did not include an appraisal
of any of the subject property.
The estate reported the following assets at the values set
forth below:
Eldon L. Auker Enterprises $641,000
The Aukers, Community Developers, Ltd. 144,000
Auker Investments, Inc. 467,000
K.A.A., Inc. - 0 -
Grand Pointe, Inc. 18,000
The apartment complexes 2,133,953
These values were derived as follows:
Eldon L. Auker Enterprises
(1) The estate reduced by $270,563 the $3,878,544 asset
value ascertained by the appraisers to take into account a
15-percent market absorption discount on the real estate
interests owned by Eldon L. Auker Enterprises or by Auker Homes,
an entity in which Eldon L. Auker Enterprises owned a 50-percent
interest. The real estate interests owned by Eldon L. Auker
Enterprises, and to which the estate applied 15-percent market
absorption discounts aggregating $139,960, were as follows:
Commercial rental property (Burger King) valued at $303,500,
commercial rental property (Gingerbread House) valued at
$113,000, 100-percent interest in residential rental properties
valued at $191,800, 50-percent interest in residential rental
properties valued at $93,440, 100-percent interest in vacant land
valued at $55,000, 50-percent interest in vacant land valued at
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