Gary W. McDonough - Page 8

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                    Other expenses (attorney’s fees)    728                           
                    Total                              9,510                          
               Ms. Cochran determined that petitioner’s net realizable                
          equity in each of his reported assets was the same as its                   
          reported value except that she reduced the reported value of the            
          stock and of each vehicle by 20 percent to reflect the assets’              
          quick sale value and increased the reported values of                       
          petitioner’s house and Arizona property because they had not been           
          based upon current appraisals and current market prices.  Ms.               
          Cochran summarized petitioner’s assets and liabilities as                   
                        Assets                     Current Value                     
                    Cash                               $52,251                        
                    Stock                              20,323                         
                    Furniture                          960                            
                    Vehicles                           51,856                         
                    Real property(one-half                                            
                    interest)                          171,500                        
                    Total                              296,890                        
               Using petitioner’s average income over 38 months, she                  
          determined his monthly income was $11,012, not $8,110.  As to the           
          reported expenses, Ms. Cochran disallowed actual expenses for               
          food, clothing, and miscellaneous; housing and utilities; and               
          transportation, and applied the national and local standard                 

               9 This amount does not include the value of petitioner’s               
          pension.  Petitioner testified that under his pension he will               
          receive 82 percent of his current gross income of approximately             
          $102,000 plus an annual cost of living raise of 2.5 percent                 

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