O'NEILL, J.
The commission determined that the statutory rate base valuation is $21,900,980 as of the date certain, June 30, 1957, that the fair annual rate of return is 5.4%, and that the allowable annual dollar return is $1,182,653.
Instead of allowing, as an item of expense, the amount of federal income tax which would be required to be paid on the annual dollar return by the federal income tax law (City of Cincinnati v. Public Utilities Commission...
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