Here is the final script for anyone else. Thanks to Don, Jabo, and Dave for the input and putting this together!
dim quote = ascii(34)
dim ft = ascii(39)
dim cr = ascii(10)
select item.cid
case 838,8382,8384
dim sBtm = item.endlocation(1,"Btm")
dim len = len(sBtm)
dim pt = instr(1,sBtm,".")
pt = pt-1
dim getfrac = right(sBtm,(len-pt))
dim inch = left(sBtm,pt)
dim frac = 0
dim getfeet = number(inch)/12
dim feet = rounddown(getfeet)
dim decinch = (getfeet - feet)*12
if getfrac < .9375 then
select number(getfrac)
case > .8124
frac = "7/8"
case > .6874
frac = "3/4"
case > .5624
frac = "5/8"
case > .4374
frac = "1/2"
case > .3124
frac = "3/8"
case > .1874
frac = "1/4"
case > .0624
frac = "1/8"
case > .9374
frac = ""
inch = inch + 1
end select
end if
rem debug "sBtm - " + sBtm +cr+cr+ "len sBtm - " + len +cr+cr+ "pt sBtm - " + pt +cr+cr+ "getdec/getfrac - " + getfrac +cr+cr+ "inch - " + inch +cr+cr+ "frac - " + frac +cr+cr+ "getfeet - " + getfeet +cr+cr+ "feet - " + feet +cr+cr+ "decinch - " + decinch
dim BtmElev
if feet > 0 then
BtmElev = feet + ft + "-" + decinch + " " + frac + quote
else
BtmElev = decinch + " " + frac + quote
end if
rem debug BtmElev
item.customdata["Hanger Wksht Elevation"].value=BtmElev
endselect