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and 4 and St Lucie Units 1 and 2 lists the gross cost as
$44,545,000.15
FPL placed fuel assemblies in service with total capitalized
costs (tax basis) of $51,684,173, $70,782,440, and $133,263,604
in the 1988, 1989, and 1990 taxable years, respectively.
B. Miscellaneous Nuclear Property
1. Main Steam Isolation Valve (MSIV) Air Accumulation
System
The MSIV air accumulation system is a safety item, required
by the NRC, that shuts down a nuclear power plant and protects
the reactor core in an emergency. FPL claims ITCs for the MSIV
air accumulation system in the 1989 and 1990 taxable years.
On July 29, 1985, FPL issued a licensee event report
(licensee event report),16 in which its engineering department
determined that the valves at Turkey Point Units 3 and 4 were
unable to close the MSIV in accordance with its original
15 The budget item breaks down the expenditure as
$36,836,000 in gross property additions and $7,709,000 for an
allowance of funds during construction. This budget item was
approved on Oct. 14, 1985, and contemplates a projected 5-year
schedule for fabrication expenses as follows: $36,836,000 for
1986; $42,633,000 for 1987; $50,889,000 for 1988; $63,267,000 for
1989; and $54,725,000 for 1990.
16 A licensee event report is a document required to be
written and submitted to the NRC. When something at the plant
does not meet design requirements, the report describes the
problem and the corrective action taken.
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