Estate of George C. Blount, Deceased, Fred B. Aftergut, Executor - Page 66

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          produce a $750,000 increase in his final blended value as well,             
          from $6 million to $6,750,000.  Mr. Hitchner’s error in computing           
          excess cash affected only his income-based value, inflating it by           
          $400,000.  As noted earlier, Mr. Hitchner did not disclose the              
          precise weight he attributed to his income-based value when                 
          blending it with his asset-based values to reach a final blended            
          value of $7 million (exclusive of insurance proceeds), except to            
          point out that he gave greater weight to his “adjusted book                 
          value” asset value and lesser but equal weight to his “modified             
          adjusted book value” asset value and income value.                          
               In these circumstances, while the precise impact on his $7             
          million blended value of a $400,000 decrease in his income-based            
          value cannot be ascertained, we are satisfied that the impact               
          would move Mr. Hitchner’s $7 million blended value significantly            
          closer to our corrected $6,750,000 value for Mr. Fodor.  We                 
          accordingly find that $6,750,000 is a reasonable point in the               
          range of values derivable from the two experts’ analyses and                
          conclude that this is the correct figure for BCC’s fair market              
          value, exclusive of the impact of the life insurance proceeds               
          received with respect to decedent.                                          
          D.   Effect of Redemption Obligation on Insurance                           
               We turn next to the question of how to account for the                 
          $3,146,134 million in life insurance proceeds BCC was due to                

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