JONES, Circuit Judge.
The question in this case is whether expenditures for capital improvements to the property of another made under a contract contemplating the improver's use of the property for a definite term shall be amortized on the basis of the term of the contract or on the basis of a shorter period as determined by the earlier termination of the contract through the happening of a specified contingency.
The City of Philadelphia, as owner of a plant...
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