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Preliminarily, we consider the parties’ disagreement
concerning whether a towboat engine should be considered
separately from the towboat. Respondent’s argument is
constructed in a manner that focuses on the engines, which
ostensibly provides better comparisons for his arguments by
magnifying the cost of the procedures performed through a
reduction of the scale of the asset being considered.
Petitioners contend that, factually, there is no predicate for
treating the engine separately from the towboat. Additionally,
petitioners argue that the result would not be changed by solely
focusing on the engines. We agree with petitioners that the
record does not support a finding that, as a matter of industry
practice or otherwise, the engines are purchased or treated
separately from the tow boats. To the contrary, the life of a
towboat is 40 years, and it is expected that the engines, if
properly maintained, will also last 40 years. Towboats are
purchased with engines, albeit to the buyer’s specifications,
that are designed to be maintained without removing them from the
boat. There was no showing that towboat owners regularly and
periodically over the life of the vessel replaced the engines.
Accordingly, we disregard any suggestion by respondent that the
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