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budgets, was able to find the number of outbound shipments for
the years 1983 through 1990 and the inbound shipments for 1987
forward. For 1983 through 1986, he assumed that inbound
shipments grew at the same rate as outbound shipments. For 1979
through 1982, no data were available, and he assumed that
outbound and inbound shipments grew at the same rate as courier
revenues, which were available. The imbalances were calculated
as the difference between inbound and outbound shipments.
Finally, average cost per shipment was available from 1987
through 1990 and reflects a downward trend from $11.64 in 1987 to
$9.99 in 1990. Information also showed that the cost per
transfer shipment also fell from $5.05 in 1987 to $3.75 in 1989
and went up to $3.97 in 1990. He therefore assumed that airline
transportation costs were trending down and had been higher
during the period 1979 through 1986. To be conservative, he
averaged the known imbalance and transfer costs to arrive at
$10.96 and $4.38 as the amounts to be used for imbalance and
transfer costs, respectively, for the 1979 through 1986 period.
Respondent’s expert next used a comparable company approach
to determine a markup of 4 percent on cost for imbalance and
transfer shipments. The five companies selected were clearly in
the same business, and their net sales less operating expenses
were used to determine an operating profit, which was divided by
operating expenses to reach a markup percentage on costs. The
comparable period used was 1990 through 1992, and it produced
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