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support its position. These witnesses included Herbert, Natalie,
and Jeffrey Cheney, who is the chief financial officer and vice
president of Kohler. The parties also provided the Court with a
stipulation of facts containing nearly 200 exhibits, which they
used on brief to support their respective positions and to object
to each other’s proposed findings and positions.
There are enough facts at issue to make the burden of proof
a meaningful issue, rather than simply an academic one. Cf.
Estate of Jelke v. Commissioner, supra; Estate of Deputy v.
Commissioner, supra. On this record, which includes such
voluminous evidence, we find that the estate introduced credible,
factual evidence supporting its position.
Accordingly, we find that the estate has satisfied the
requirements of section 7491(a), and we stand by our ruling at
trial that respondent has the burden of proof.
II. Choice of Valuation Date and Stock To Be Valued
We now consider the appropriate valuation date and the
characteristics of the stock to be valued.
A. Choice of Valuation Date
Before trial, petitioners and respondent each filed motions
for partial summary judgment regarding whether the post-
reorganization Kohler stock or the pre-reorganization Kohler
stock should be considered in the valuation. The Court denied
both motions then because the issue was premature.
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