Court of Appeals for the Tenth Circuit October 27, 1980, 78-2026 (Monarch Cement Company v. United States)

McKAY, Circuit Judge.

The district court found that certain warrants (options) issued as part of a 1956 loan transaction were equivalent, for federal income taxation purposes, to an additional interest charge of IV2 percent per annum.

Monarch Cement Co. v. United States,

458 F.Supp. 384, 387 (D.Kan.1978). The finding translates into an effective value for the warrants of $643,957.14.