Austin L. Mitchell and Rebecca A. Mitchell - Page 3

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          up on the family farm and worked on it during his childhood                 
          through his college years.  Petitioner assumed greater                      
          responsibility for maintaining the family farm during his                   
          adolescence because of his father’s declining health.  Petitioner           
          worked with livestock and row crops.  The family farm was                   
          “running 100 bushel of corn to the acre” under petitioner’s                 
          stewardship, a prodigious result.                                           
               Since 1977, petitioner has worked as an attorney and CPA in            
          the Salem area.  Many of petitioner’s clients are farmers.                  
          Petitioner is a hard-working individual and has been financially            
          successful as an attorney and CPA, his chosen professions, which            
          he enjoys.  Petitioner worked approximately 2,800 to 3,100 hours            
          per year in those professional occupations in each of the years             
          at issue.                                                                   
          The Family Farm                                                             
               Petitioner’s mother owned the family farm until her death in           
          April 1992.  The family farm consisted of approximately 38 acres            
          of tillable bottom land, 35 to 40 acres of pasture, a 20-acre               
          timber stand, and a dwelling.  The timber stand consisted                   
          primarily of black walnut and white oak trees at different stages           
          of maturity.  Both types of trees can produce revenue for a                 
          landowner.  Premature trees can be thinned and sold as pulpwood,            
          and mature trees can be harvested for board wood (lumber).  From            
          the time a sapling is planted, it will be 50 years before the               






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