"Roger Curry did the income capitalization calculation that is shown on Petitioner Exhibit 11. The credibility of his work and valuation opinion is critical to the Petitioner’s case. Several things, however, negatively impact that credibility. He clearly has an interest in the outcome of this appeal because he is the Petitioner’s vice-president. ... Furthermore, the Petitioner failed to prove that the evidence it offered conforms to generally accepted appraisal principles. The failure involves all three major segments of this income capitalization approach: the effective gross income, the net operating income, and the 12% capitalization rate."
http://www.in.gov/ibtr/files/KL_Presnell_41-026-07-1-4-40163_et_al.pdf
