Sec. 32.2682  Leasehold improvements.

    (a) This account shall include the original cost of leasehold 
improvements made to telecommunications plant held under a capital or 
operating lease, which are subject to amortization treatment. This 
account shall also include those improvements which will revert to the 
lessor.
    (b) Improvements to leased telecommunications plant which are of a 
relatively minor cost or short life or for which the period of the lease 
is one year or less shall be charged to the account chargeable with the 
cost of repairs to such plant.
    (c) Amounts contained in this account shall be amortized over the 
term of the related lease.