Estate of James J. Renier, Deceased, Kent L. Renier and Dubuque Bank & Trust Company, Co-Executors - Page 4

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          July 1988 through June 1992, Renier’s compound annual growth was            
          just 3.8 percent.                                                           
               Renier’s retail operation consisted of a single 7,200-                 
          square-foot store located in a strip mall in Dubuque.  Renier was           
          open for business 68 hours per week: 11 hours a day on Monday               
          through Friday, 8 hours on Saturday, and 5 hours on Sunday.  In             
          1994, the city of Dubuque had an estimated population of 57,840.            
          Dubuque’s population had declined over 7 percent since 1980 and             
          was not expected to grow rapidly after the valuation date.                  
               On the valuation date, Renier had seven employees, including           
          Kent and Maria Renier, decedent’s son and daughter-in-law (Kent             
          and Maria).  Kent served as store manager and as a salesperson,             
          and Maria performed clerical and bookkeeping functions.  Kent was           
          also responsible for about one-third of Renier’s total sales.  At           
          various times during the 5 years and approximately 9 months                 
          preceding the valuation date, decedent and five other members of            
          his family were employed by Renier.  Until September 1993,                  
          decedent remained active in the business, meeting customers and             
          handling Renier’s advertising and finances.  After September                
          1993, health problems prevented decedent from working the sales             
          floor, but he continued to be involved in Renier’s advertising              
          and finances.                                                               
               Renier’s primary competition consisted of national retail              
          chains which operated stores in the Dubuque area.  These chain              
          stores offered a much broader consumer electronics product                  

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