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(2) The estate ascertained the value of the decedent's
100-percent interest in Auker Investments, Inc., by subtracting
Auker Investment, Inc.'s liabilities of zero from its adjusted
asset value of $467,000 ($512,000 - $45,000) to arrive at
$467,000.
K.A.A. Inc.
(1) The estate reduced by $2,610 the $240,841 asset value
ascertained by the appraisers to take into account a 15-percent
market absorption discount on K.A.A., Inc.'s 100-percent interest
in vacant land valued at $17,400.
(2) The estate ascertained the value of the decedent's
25-percent interest in K.A.A., Inc., by subtracting K.A.A.,
Inc.'s liabilities of $226,511 from its adjusted asset value of
$238,231 ($240,841 - $2,610) to arrive at $11,720 and then
multiplying the balance by .25. The estate reported that the
balance equaled zero.
Grand Pointe, Inc.
(1) The estate reduced by $477,750 the $3,285,942 asset
value ascertained by the appraisers to take into account
15-percent market absorption discounts on Grand Pointe, Inc.'s
commercial rental property valued at $525,000 and land under
development held for sale valued at $2,660,000.
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