-17-
the economic outlook in its industry, and the values of publicly
traded stock of comparable corporations. Estate of Andrews v.
Commissioner, 79 T.C. 938, 940 (1982); see sec. 25.2512-2(f),
Gift Tax Regs. The weight to be given to these or other
evidentiary factors depends on the facts of each case. Sec.
25.2512-2(f), Gift Tax Regs.
B. Expert Testimony
Both parties called expert witnesses to give their opinions
about the value of the Home and Rock Hill stock that petitioners
gave to their children and grandchildren in 1992. We may accept
or reject expert testimony according to our own judgment, and we
may be selective in deciding what parts of an expert's opinion,
if any, we will accept. Parker v. Commissioner, 86 T.C. 547, 562
(1986).
The expert witnesses at trial were: Dr. Scott D. Hakala
(Hakala), for respondent, and George B. Hawkins (Hawkins), for
petitioner. Their opinions and the positions of the parties as
to the per share value of Home and Rock Hill stock at issue in
these cases are as follows:
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