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The reported value of the house reflected an 80-percent “quick-
sale” value. Petitioners also reported that Mr. Carter had a
pension fund valued at $123,591, but indicated that it was not
currently accessible.
Petitioners reported gross monthly income of $4,458,
representing Mr. Carter’s wages of $3,496, Ms. Carter’s wages of
$827, and other income of $135.8 Petitioners also reported the
following monthly living expenses:
Expense item Monthly Expense
Housing $1,648
Transportation 390
Health care 212
Taxes 1,210
Life insurance 56
Attorney’s fees 299
Other business-related 176
expenses
Total 3,991
In one of the May 14, 2004 letters, petitioners state that
they are offering to pay $99,851 “for all Hoyt related years to
be paid in one lump sum payment. The amount accounts for all the
8 The Form 433-A in evidence does not include page 6, which
would include “Section 9, Monthly Income and Expense Analysis”
and the signature line. Thus, our findings of fact regarding
petitioners’ monthly income and expenses come from
representations made by respondent in the Notice of
Determination.
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