After considering all the relevant factors, including the nature of the improvement constituting the so-called annex, we conclude that an overall return of 5½% on the assessed value would be a fair and reasonable return. Adding to the sum so calculated, the taxes and expenses of operation, and deducting other income, we find that approximately $665,000 is necessary to provide a reasonable return. Giving due consideration to all the circumstances involved, it would seem...
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