Estate of H.A. True, Jr. - Page 215

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          made no distributions to shareholders during the analyzed period.           
          Instead, shareholders lent or contributed funds to the company.             
              On the basis of the foregoing, we conclude that a minority              
          interest in White Stallion is less marketable than a minority               
          interest in Belle Fourche.  Therefore, we assign a 30-percent               
          marketability discount to Dave True’s 34.235-percent interest in            
          White Stallion, valued as of June 4, 1994.                                  

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