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1) R = Applicable marginal rate of Federal and State <br />Corporate Income Tax if one is payable on the value of the <br />contributions which must be included in'. taxable income of tie <br />utility. <br />2) R shall be determined as follows: <br />R = ST + FT (1 -ST) <br />ST = Applicable marginal" rate Qf State Corporate Income <br />Tax I' I; <br />.?III�I:: <br />•• FT = Applicable marginalJ{ rate Federal Income Tax, <br />either corporate or,!indiv'idual. <br />i. .;. <br />3) F - Dollar Amount of charges paid to a utility as <br />contributions in aid of construction which must be included in <br />taxable income of the utiity, and whish had been excluded in <br />taxable income pursuant to Seption �18(b) of the Internal <br />Revenue Code. I' <br />4) P = Dollar Amount f propq;ty conveyed to utility <br />which must be included in taxa4le income of the utility, and <br />which had been excluded from taxable income pursuant to Section <br />118(b) of the Internal Revenue Co'de. <br />SERVI M DgEI,Ot, Ri:,I/ l\ <br />By By: �' it1,rJ q�C' ' 'F47 <br />WI NESS)SS• <br />I� ;Ila <br />•I <br />�i <br />EXHIBIT "D" <br />Page 2 of 2 ' <br />