Estate of Burton W. Kanter, Deceased, Joshua S. Kanter, Executor, and Naomi R. Kanter, et al. - Page 121

                                                -200-                                                   
                                               Step 2                                                   
                  As previously mentioned, IRA held a receivable of $507,648                            
            due from IFI.  Exh. 34, at 2.  On December 17, 1987, IRA                                    
            exchanged its $507,648 receivable due from IFI for all of IFI’s                             
            remaining assets, which included a partnership interest in 1984                             
            Development Partnership (assigned a value of $55,288), and IFI’s                            
            receivables listed below:                                                                   
                                       IFI Receivables                                                  
                              Ballard               $35,748                                             
            Ballard               160,900                                                               
                              CMB Cinema Trust       70,650                                             
                              CMB Cinema Trust II    16,675                                             
                              HELO (re: Summit)      96,100                                             
                              CMB Cinema Ventures       250                                             
                              Lisle                  28,284                                             
                              RWL Cinema             21,500                                             
                              RWL Cinema II          67,839                                             
                              HELO (re: Basking                                                         
                             Ridge)               84,700                                               
                              Safari Trust           98,450                                             
                              HGA Cinema            133,695                                             
                              Elk Invest.            76,500                                             
                              Interalia             125,000                                             
                              Hargen                  8,000                                             
                              THC                    29,500                                             
                              Abernathy              67,098                                             
                              Total             1,120,889                                               
            Petitioners’ Reply Brief at 573-576; Exh. 9019                                              
                                               Step 3                                                   
                  MAF, Inc. (MAF), was a subsidiary of a Kanter-related entity                          
            known as Computer Placement Services, Inc.  Gallenberger,                                   
            Transcr. at 2025-2027.  Albert Morrison, Jr., a C.P.A., served as                           

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