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Q. Let me just focus on the cost of the IBM
equipment. How did you determine whether
that price was a fair price that was being
paid by the individuals involved in the
Roscrea Trust?
A. Well, by basically looking at the prices
that were in the--in the appraisal and
generally dealing with what my knowledge was
in the market place, and in conversations
with people.
* * * * * * *
Q. Just focusing on the pricing for the moment.
Who did you speak with in connection with
that, just with the cost of the equipment?
A. The cost of the equipment? With Biggs.
Q. And what was your determination about--view
about the cost of the equipment that was
going to be involved in the Roscrea Trust?
A. It was reasonable.
* * * * * * *
Q. You read the whole investment memo?
A. I read the investment memo, except for the
part that was a very technical tax piece of
the memo. I did not read that.
Q. Did you read the appraisal that came along
with the investment memo?
A. Yes.
Q. Did you question the appraisal?
A. Did I question it? No.
Q. You took it at face value?
A. I took it at the value after I applied
my judgment to it, yes.
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