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fixed costs.6 Approximately 75 percent7 of the printing and
telephone costs were attributable exclusively to ACC’s credit
analysis activities. Ninety-five percent of the expenses for
computers were related exclusively to ACC’s credit analysis
activities during the years in issue. One can only wonder how
the majority would have treated computer expenses if 100 percent
of such expenses were allocable to ACC’s credit analysis
activities.
The majority provides no legal basis for distinguishing
between expenditures for salaries and expenditures for “overhead”
expenses. Indeed, the majority correctly states that overhead
expenses “are capital in nature to the extent that they
originated in ACC’s acquisition process, or, in other words, were
directly related to ACC’s anticipated acquisition of installment
contracts.” Majority op. p. 29. Therefore, my disagreement with
the majority is based on what I view as the logical disconnect
between the majority’s specific findings of fact and the
majority’s rationale for concluding that the “overhead” expenses
6The majority notes a variation in printing, telephone, and
computer costs from one year to another but does not identify the
cause. See majority op. pp. 29-30.
7For 1993, 75 percent of printing and telephone costs were
attributable to ACC’s credit analysis activities. For 1994, 75
percent of printing costs and 60 percent of telephone costs were
attributable to ACC’s credit analysis activities.
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