Total Investment Cost by Source G$ (000)

Item No.
ITEM
1 Land Acquisition (Wharfs: Parika, Bartica, Mabaruma)
2 Plant & Machinery
Acquisition of 2 - 60ft landing Crafts (US$575,000 each)
Acquisition of Maintenance, Operation Equipment and Spares
3 Vehicles
Pick Up
4 Wharf Equipment
Trolleys etc
5 Engineering Works
Design and Supervision Services for Building,Terminals and Workshops
Construction of Office Building
Construction of Terminals
Provide for Furnishing of Office Building
Provide for Furnishing of Terminals
Sub Total
Working Capital (20%)
TOTAL (Fixed Cost, for which loan will be taken)

LOAN AMOUNT (For Asset Acquisition)

TERM
RATE
MONTHLY
ANNUALLY
(Verify: https://www.shopify.com/tools/business-loan-calculator)

DEPRECIATION
Total COST of Depreciable Assets
Residual Value
Useful life
Annual depreciation using Straight Line Method
(Verify: http://www.calculatorsoup.com/calculators/financial/depreciation-straight-line.php)

Source G$ (000)
QUANTITY
3

COST
225,000.0
241,500.0
21,000.0

2
1

$
$

$
120,750.0 $
21,000.0 $
`

4,000.0 $

16,000.0

500.0 $

2,000.0

$
$
$
$
$
$
$
$
$

0.1
45.0
90,000.0
4,500.0
7,500.0
607,545.1
121,509.0
729,054.1

1
3
3
3
3

UNIT COST
$
75,000.0 $

$
$
$
$
$

729,054,100.0
21 YEARS
10%
$6,931,700
$83,180,400

$
$

382,545,100.0
82,545,100.0

30,000,000.0

10 years

0.1
15.0
30,000.0
1,500.0
2,500.0

Unit Cost
Marine Equipment
-lines
Computers and Sales
Equipment (16)
Office equipment

Year 3
$

4,000.00 $

Capital Replacement G$ (000)

Year 5
Year 6
-

120,000.00 $ 1,920,000.00

4,000.00

$ 1,920,000.00

Vehicles
-Pick Up
Wharf Equipment
-Trolleys etc
Total

$
$ 1,924,000.00 $

2,000.0
2,000.00 $ 1,924,000.00

Notes:
Vessels
Two boats will be purchased
Routes to be serviced:
Georgetown to Port Kaituma---Four (4) return trips per week
Parika to Bartica----Two (2) return trips per week
Major Business:
Vehicular Cargo-----each vessel can carry 10 cars
Goods and equipment
Passengers-----each vessel can carry 30 pasengers
Market Advantage:
Reduces T&HD time by 50%
Provides more safety and can carry more personnel effects than speed boats
Locations:
Company will have office and staff in G/Town, Bartica, Mabaruma and Port Kaituma

nt G$ (000)
Year 7

Year 8

Year 9
$

Year 10

4,000.00

$ 1,920,000.00

16,000.0

$ 1,924,000.00 $

Table 3: Projected Prices

ROUTES
Georgetown - Port
Kaituma(Passenger)

YEAR 1

Georgetown - Port Kaituma

(Vehicles)
Parika - Bartica(Passenger)
Parika - Bartica(Vehicles)
Parika -Bartica Cargo (per kilo)
Georgetown - Port Kaituma Cargo
(per kilos)

YEAR 2

YEAR 3

4800

4800

4800

16000

16000

16000

2400
7200

2400
7200

2400
7200

$40.0

$40.0

$40.0

$80.0

$80.0

$80.0

ADJUSTED
PRICES

4800
16000

Notes:
Prices increase by 25% after year 3
and constant after year 5

2400
7200
$40.0
$80.0

Annual Passenger/Vehicle/Cargo Volume (Units)

Daily

Georgetown - Port
Kaituma(Passenger)
Georgetown - Port Kaituma
(Vehicles)
Parika - Bartica(Passenger)
Two return trips per day@40 per
return trip
Parika - Bartica(Vehicles)
Parika -Bartica Cargo (kilos)
Georgetown - Port Kaituma Cargo
(kilos)

ROUTES
Georgetown - Port
Kaituma(Passenger)
Georgetown - Port Kaituma
(Vehicles)

#days/week

#weeks/year

20

52

52

80
4
1000

6
6
6

52
52
52

2000

52

YEAR 1

YEAR 2

YEAR 3

19,968,000 $

19,968,000 $ 19,968,000

19,968,000 $

19,968,000 $ 19,968,000

Parika - Bartica(Passenger)
Parika - Bartica(Vehicles)
Parika -Bartica Cargo (kilos)
Georgetown - Port Kaituma Cargo
(kilos)
TOTAL ANNUAL REVENUE

$
$
$

59,904,000 $
8,985,600 $
12,480,000 $

59,904,000 $ 59,904,000
8,985,600 $ 8,985,600
12,480,000 $ 12,480,000

33,280,000 $

33,280,000 $ 33,280,000

$ 154,585,600 $

154,585,600 $ 154,585,600

YEAR 4

YEAR 5

YEAR 6

YEAR 7

YEAR 8

YEAR 9

6,000.0

### $

6,000.0 $

6,000.0

### $

6,000.0

20,000.0

### $

20,000.0 $

20,000.0

### $

20,000.0

$
$
$

3,000.0
10,000.0
49.90

### $
### $
### $

3,000.0 $
10,000.0 $
49.90 $

3,000.0
10,000.0
49.90

### $
### $
### $

3,000.0
10,000.0
49.90

100.0

### $

100.0 $

100.0

### $

100.0

$
$

6,000.0
20,000.0

$
$
$
$

3,000.0
10,000.0
49.90
100.0

Annual Total
4160
1248

24960
1248
312000
416000

YEAR 4

YEAR 5

YEAR 6

YEAR 7

YEAR 8

YEAR 9

24,960,000 $ 24,960,000 $

24,960,000 $

24,960,000 $

24,960,000 $

24,960,000

24,960,000 $ 24,960,000 $

24,960,000 $

24,960,000 $

24,960,000 $

24,960,000

$
$
$

74,880,000 $ 74,880,000 $
12,480,000 $ 12,480,000 $
15,568,800 $ 15,568,800 $

74,880,000 $
12,480,000 $
15,568,800 $

74,880,000 $
12,480,000 $
15,568,800 $

74,880,000 $
12,480,000 $
15,568,800 $

74,880,000
12,480,000
15,568,800

41,600,000 $ 41,600,000 $

41,600,000 $

41,600,000 $

41,600,000 $

41,600,000

$ 194,448,800 $ 194,448,800 $

194,448,800 $

194,448,800

$ 194,448,800 $ 194,448,800

YEAR 10
$

6,000.0

20,000.0

$
$
$

3,000.0
10,000.0
49.90

100.0

YEAR 10
$

24,960,000

24,960,000

$
$
$

74,880,000
12,480,000
15,568,800

41,600,000

$ 194,448,800

Table 6: Operating Costs

Fixed Costs
Salaries
-General Manager
-Admin Manager
-Admin Assistant
-Secretary
-Captains
-Sailors
Parika
-Admin Manager
-Admin Assistant
Bartica
-Admin Manager
-Admin Assistant
Mabaruma
-Admin Manager
-Admin Assistant
Port Kaituma
-Admin Manager
-Admin Assistant
Vehicle Rev. & Fitness
NIS & PAYE
General Insurance
(Buildings)
Vehicle Insurances
Rates & Taxes
Admin. Cost
Contingencies (10%)
Total Fixed Cost
Variable Costs
Wages (All locations)
-Porters
-Cleaners
Marketing
Repairs & Maintenance
Vehicle Fuel & Oil
Utilities- Electricity
Contingencies
Total Variable Costs

Unit Cost/mth

Units

Yr. 1

Yr. 2

$
$
$
$
$
$

500,000
250,000
200,000
150,000
450,000
250,000

1
1
1
1
2
8

$
$
$
$
$
$

500,000
250,000
200,000
150,000
900,000
2,000,000

$
$

250,000
200,000

1
1

$
$

250,000
200,000

$
$

250,000
200,000

1
1

$
$

250,000
200,000

$
$

250,000
200,000

1
1

$
$

250,000
200,000

$
$
$

250,000
200,000
5,000

1
1
4

$
$
$

250,000
200,000 $
20,000.00 $

7,003,500
21,000.00

30,000.00

120,000 $

120,000

$
$

200,000
30,000.00

4
4

$
$

800,000 $
120,000 $

800,000
120,000

1,510,000.00 $

8,064,500.00

$
$
$
$
$
$
$
$

895,920.00
658,142.00
400,000.00
300,000.00
500,000.00
875,000.00
600,000.00
4,229,062.00

1624261

$
$
$
$
$
$

500,000.00
200,000.00
300,000.00
750,000.00
500,000.00
3,874,261.15

Total Operating Cost

Employees:
General Manager
Admin Manager

5,739,062.00 $

11,938,761.15

Yr. 3

Yr. 4

Yr. 5

$
$
$
$
$
$

$
$
$
$
$
$

$
$
$
$
$
$

$
$

$
$

$
$

$
$

$
$

$
$

$
$

$
$

$
$

Yr. 6

$
$
$

- $
7,353,675 $
22,050.00 $

- $
7,721,359 $
23,152.50 $

$
$
$
$
$
$
$
- $
- $
$
- $
- $
$
- $
- $
$
- $
8,107,427 $
24,310.13 $

120,000 $

120,000 $

120,000 $

120,000 $

120,000

$
$

800,000 $
120,000 $

800,000 $
120,000 $

800,000 $
120,000 $

800,000 $
120,000 $

800,000
120,000

8,415,725.00 $

8,784,511.25 $

9,171,736.81 $

9,171,736.81 $

9,171,736.81

$
$
$
$
$
$
$

1,867,565.50
600,000.00
300,000.00
420,000.00
625,000.00
600,000.00
4,412,565.50

1,958,002.65
700,000.00
452,000.00
400,000.00
565,000.00
700,000.00
4,775,002.65

1,593,457.25
800,000.00
500,000.00
300,000.00
875,000.00
452,000.00
4,520,457.25

1,914,155.45
800,000.00
600,000.00
400,000.00
1,000,000.00
400,000.00
5,114,155.45

1,562,759.15
900,000.00
700,000.00
500,000.00
1,125,000.00
900,000.00
5,687,759.15

$
$
$
$
$
$
$

$
$
$
$
$
$
$

$
$
$
$
$
$
$

8,107,427
24,310.13

Yr. 7
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

8,107,427
24,310.13

$
$
$
$
$
$
$

$ 12,828,290.50 $ 13,559,513.90 $ 13,692,194.06 $ 14,285,892.26 $ 14,859,495.96

Yr. 8
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

8,107,427
24,310.13

Yr. 9
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

8,107,427
24,310.13

Yr. 10
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

8,107,427
24,310.13

120,000 $

120,000 $

120,000

$
$

800,000 $
120,000 $

800,000 $
120,000 $

800,000
120,000

9,171,736.81 $

9,171,736.81 $

9,171,736.81

$
$
$
$
$
$
$

1,885,050.10
900,000.00
452,000.00
300,000.00
750,000.00
500,000.00
4,787,050.10

1,779,294.95
850,000.00
700,000.00
500,000.00
500,000.00
700,000.00
5,029,294.95

1,767,853.60
800,000.00
600,000.00
420,000.00
625,000.00
600,000.00
4,812,853.60

$
$
$
$
$
$
$

$
$
$
$
$
$
$

Total

$ 13,958,786.91 $ 14,201,031.76 $

13,984,590.41

Table 8: Income Statement

Income Statement
Sales Revenue
Less Variable Cost
Gross Margin
Less: Fixed Costs
Loan repayments
Depreciation
Income before tax
Minus Tax (30%)
Net Income after tax

$
$
$
$
$
$
$
$
$

Yr. 1
154,585,600
4,229,062.00
150,356,538.00
1,510,000.00
83,180,400.00
30,000,000.00
35,666,138.00
10,699,841.40
24,966,296.60

$
$
$
$
$
$
$
$
$

Yr. 2
154,585,600
3,874,261.15
150,711,338.85
8,064,500.00
83,180,400.00
30,000,000.00
112,646,838.85
33,794,051.66
78,852,787.20

Yr. 3
$
154,585,600
$ 4,412,565.50
$ 150,173,034.50
$ 8,415,725.00
$ 83,180,400.00
$ 30,000,000.00
$ 111,757,309.50
$ 33,527,192.85
$ 78,230,116.65

Yr. 4
$
194,448,800
$ 4,775,002.65
$ 189,673,797.35
$ 8,784,511.25
$ 83,180,400.00
$ 30,000,000.00
$ 150,889,286.10
$ 45,266,785.83
$ 105,622,500.27

Yr. 5
$
194,448,800
$ 4,520,457.25
$ 189,928,342.75
$ 9,171,736.81
$ 83,180,400.00
$ 30,000,000.00
$ 150,756,605.94
$ 45,226,981.78
$ 105,529,624.16

Yr. 6
$
194,448,800
$ 5,114,155.45
$ 189,334,644.55
$ 9,171,736.81
$ 83,180,400.00
$ 30,000,000.00
$ 150,162,907.74
$ 45,048,872.32
$ 105,114,035.42

Yr. 7
$
194,448,800
$ 5,687,759.15
$ 188,761,040.85
$ 9,171,736.81
$ 83,180,400.00
$ 30,000,000.00
$ 149,589,304.04
$ 44,876,791.21
$ 104,712,512.83

Yr. 8
$
194,448,800
$ 4,787,050.10
$ 189,661,749.90
$ 9,171,736.81
$ 83,180,400.00
$ 30,000,000.00
$ 150,490,013.09
$ 45,147,003.93
$ 105,343,009.16

Yr. 9
$
194,448,800
$ 5,029,294.95
$ 189,419,505.05
$ 9,171,736.81
$ 83,180,400.00
$ 30,000,000.00
$ 150,247,768.24
$ 45,074,330.47
$ 105,173,437.77

Yr. 10
$
194,448,800
$ 4,812,853.60
$ 189,635,946.40
$ 9,171,736.81
$ 83,180,400.00
$ 30,000,000.00
$ 150,464,209.59
$ 45,139,262.88
$ 105,324,946.71

Total

NEW TOTAL
NEW TOTAL
SALARIES (15%
WAGES (15%
INCREASE FROM
INCREASE
YEAR
YR.2)
FROM YR.2)
1
SAME
2
$
7,003,500 $
1,624,261
3
$
7,353,675 $
1,867,566
4
$
7,721,359 $
1,958,003
5
$
8,107,427 $
1,593,457
6
$
8,107,427 $
1,914,155
7
$
8,107,427 $
1,562,759
8
$
8,107,427 $
1,885,050
9
$
8,107,427 $
1,779,295
10
$
8,107,427 $
1,767,854
TOTAL CASH FLOWS
TOTAL INVESTMENT
NET PRESENT VALUE

YEAR
1
2
3
4
5
6
7
8
9
10
TOTAL CASH FLOWS
TOTAL INVESTMENT
NET PRESENT VALUE

ADJUSTED
UTILITIES
(POST-25%
ELECTRICITY
COST
INCREASE)
$
875,000
$
750,000
$
625,000
$
565,000
$
875,000
$
1,000,000
$
1,125,000
$
750,000
$
500,000
$
625,000

ADJUSTED NET
INCOME AFTER
TAX
$
24,966,297
$
78,852,787
$
78,230,117
$
105,622,500
$
105,529,624
$
105,114,035
$
104,712,513
$
105,343,009
$
105,173,438
$
105,324,947

ADJSUTED
DISCOUNTED
CASH FLOWS
$ 49,969,361
$ 89,960,981
$ 79,869,359
$ 92,631,993
$ 84,151,992
$ 76,268,351
$ 69,128,820
$ 63,138,513
$ 56,510,769
$ 83,998,334
$ 745,628,471
$ -729,054,100
$ 16,574,371

ADJUSTED NET
INCOME AFTER
TAX
$
24,966,297
$
83,572,789
$
83,200,919
$
110,841,574
$
110,967,428
$
110,581,120
$
110,147,514
$
110,807,437
$
110,628,209
$
110,778,674

ADJSUTED
DISCOUNTED
CASH FLOWS
$ 49,969,361
$ 93,861,809
$ 83,603,996
$ 96,196,690
$ 87,528,440
$ 79,354,377
$ 71,917,834
$ 65,687,708
$ 58,824,125
$ 86,100,982
$ 773,045,323
$ -729,054,100
$ 43,991,223

20% REDUCTION IN PRICES

ADJUSTED
REVENUE (POST20% PRICE
YEAR
REDUCTION)
1 $
154,585,600
2 $
154,585,600
3 $
154,585,600
4 $
194,448,800
5 $
194,448,800
6 $
194,448,800
7 $
194,448,800
8 $
194,448,800
9 $
194,448,800
10 $
194,448,800
TOTAL CASH FLOWS
TOTAL INVESTMENT
NET PRESENT VALUE

YEAR
1
2
3
4

ADJUSTED
UTILITIES (POST25% ELECTRICITY
COST INCREASE)
$
875,000
$
750,000
$
625,000
$
565,000

ADJUSTED
NET INCOME
AFTER TAX
$ 25,088,797
$ 83,677,789
$ 83,288,419
$ 110,920,674
$ 111,089,928
$ 110,721,120
$ 110,305,014
$ 110,912,437
$ 110,698,209
$ 110,866,174

ADJSUTED
DISCOUNTED
CASH FLOWS
$
50,080,724
$
93,948,586
$
83,669,736
$
96,250,716
$
87,604,503
$
79,433,404
$
71,998,657
$
65,736,692
$
58,853,812
$
86,134,717
$
773,711,547
$
-729,054,100
$
44,657,447

ADJUSTED
NET INCOME
AFTER TAX
$ 24,966,297
$ 83,572,789
$ 83,200,919
$ 110,841,574

ADJSUTED
DISCOUNTED
CASH FLOWS
$
49,969,361
$
93,861,809
$
83,603,996
$
96,196,690

5
$
875,000
6
$
1,000,000
7
$
1,125,000
8
$
750,000
9
$
500,000
10
$
625,000
TOTAL CASH FLOWS
TOTAL INVESTMENT
NET PRESENT VALUE

$
$
$
$
$
$

NEW TOTAL
SALARIES (15%
INCREASE FROM
YEAR
YR.2)
1
SAME
2
$
7,003,500
3
$
7,353,675
4
$
7,721,359
5
$
8,107,427
6
$
8,107,427
7
$
8,107,427
8
$
8,107,427
9
$
8,107,427
10
$
8,107,427
TOTAL CASH FLOWS
TOTAL INVESTMENT
NET PRESENT VALUE

NEW TOTAL
WAGES (15%
INCREASE
FROM YR.2)
$
$
$
$
$
$
$
$
$

110,967,428
110,581,120
110,147,514
110,807,437
110,628,209
110,778,674

1,624,261
1,867,566
1,958,003
1,593,457
1,914,155
1,562,759
1,885,050
1,779,295
1,767,854

$
$
$
$
$
$
$
$
$

87,528,440
79,354,377
71,917,834
65,687,708
58,824,125
86,100,982
773,045,323
-729,054,100
43,991,223

ADJUSTED NET
INCOME AFTER
TAX
$
24,966,297
$
78,852,787
$
78,230,117
$
105,622,500
$
105,529,624
$
105,114,035
$
104,712,513
$
105,343,009
$
105,173,438
$
105,324,947

ADJSUTED
DISCOUNTED
CASH FLOWS
$
49,969,361
$
89,960,981
$
79,869,359
$
92,631,993
$
84,151,992
$
76,268,351
$
69,128,820
$
63,138,513
$
56,510,769
$
83,998,334
$
745,628,471
$ -729,054,100
$
16,574,371

Table 9: Discounted Cash Flows

Discount rate 10%

Years

TOTALS

Capital Cost

Depreciation
Net Income (After(Non-cash, added
Tax)
back)

0 $ -729,054,100.00
$
1
$
2
$
3
$
4
$
5
$
6
$
7
$
8
$
9
$
10
$ -729,054,100.00

24,966,296.60
78,852,787.20
78,230,116.65
105,622,500.27
105,529,624.16
105,114,035.42
104,712,512.83
105,343,009.16
105,173,437.77
105,324,946.71

$
$
$
$
$
$
$
$
$
$

30,000,000.00
30,000,000.00
30,000,000.00
30,000,000.00
30,000,000.00
30,000,000.00
30,000,000.00
30,000,000.00
30,000,000.00
30,000,000.00

Net Present Value (NPV)

(Verify: http://www.investopedia.com/calculator/netpresentvalue.aspx)

With a discount rate of 10.00% and a span of 10 years, your projected cash flows are worth $843,239,458.93 tod
The resulting positive NPV of the above project is $114,185,358.93 which indicates that pursuing the above proje
The typical decision rule in corporate finance is that if the NPV of a project is positive, it should be undertaken; n

Capital
Replacements
(Outflows)

$
$

Net Cash Flow

$ 54,966,296.60
$ 108,852,787.20
1,924,000.00 $ 106,306,116.65
$ 135,622,500.27
2,000.00 $ 135,527,624.16
$ 135,114,035.42
$ 134,712,512.83
$ 135,343,009.16
1,924,000.00 $ 133,249,437.77
$ 217,870,046.71

Discount

Net Cash Flow

0.9091
0.8264
0.7513
0.6830
0.6209
0.5645
0.5132
0.4665
0.4241
0.3855

$
$
$
$
$
$
$
$
$
$
$
$
$

49,969,360.55
89,960,981.15
79,869,358.87
92,631,992.53
84,151,991.70
76,268,350.58
69,128,819.58
63,138,512.63
56,510,769.21
83,998,334.48
745,628,471.28
-729,054,100.00
16,574,371.28

are worth $843,239,458.93 today, which is greater than the initial $729,054,100.00 paid.
s that pursuing the above project will be profitable if undertaken via the loan.
ive, it should be undertaken; negative NPV, rejected (Brealey 2010).

YEAR 2

YEAR 3

YEAR 4

YEAR 5

SALARIES

-General Manager
-Admin Manager
-Admin Assistant
-Secretary
-Captains
-Sailors
Parika
-Admin Manager
-Admin Assistant
Bartica
-Admin Manager
-Admin Assistant
Mabaruma
-Admin Manager
-Admin Assistant
Port Kaituma
-Admin Manager
-Admin Assistant
TOTAL

$
$
$
$
$
$

525,000
262,500
210,000
157,500
945,000
2,100,000

$ 551,250
$ 275,625
$ 220,500
$ 165,375
$ 992,250
$ 2,205,000

$
$

262,500
210,000

$
$

$
$

262,500
210,000

$
$

262,500
210,000

$
$
$

262,500
210,000
6,090,000

$
$
$
$
$
$

578,813
289,406
231,525
173,644
1,041,863
2,315,250

$
$
$
$
$
$

607,753
303,877
243,101
182,326
1,093,956
2,431,013

275,625 $
220,500 $

289,406 $
231,525 $

303,877
243,101

$
$

275,625 $
220,500 $

289,406 $
231,525 $

303,877
243,101

$
$

275,625 $
220,500 $

289,406 $
231,525 $

303,877
243,101

$ 275,625 $
$ 220,500 $
$ 6,394,500 $

289,406 $
231,525 $
6,714,225 $

303,877
243,101
7,049,936

WAGES
Porters
Cleaners
TOTAL
NEW TOTAL SALARIES
NEW TOTAL WAGES

$ 967,774.00 $ 999,397.00 $ 1,030,665.00 $ 822,394.00

$ 444,627.00 $ 624,573.00 $ 671,946.00 $ 563,221.00
$

1,412,401
7003500
1624261

$ 1,623,970 $
7353675
1867566

1,702,611 $
7721359
1958003

1,385,615
8107427
1593457

YEAR 6

YEAR 7

$ 607,753 $
$ 303,877 $
$ 243,101 $
$ 182,326 $
$ 1,093,956 $
$ 2,431,013 $
$
- $
$ 303,877 $
$ 243,101 $
$
- $
$ 303,877 $
$ 243,101 $
$
- $
$ 303,877 $
$ 243,101 $
$
- $
$ 303,877 $
$ 243,101 $
$ 7,049,936 $

$ 865,765.00 $
$ 798,718.00 $
$ 1,664,483 $
8107427
1914155

YEAR 8

607,753
303,877
243,101
182,326
1,093,956
2,431,013
303,877
243,101
303,877
243,101
303,877
243,101
303,877
243,101
7,049,936 $

###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
7,049,936

YEAR 9
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

607,753
303,877
243,101
182,326
1,093,956
2,431,013
303,877
243,101
303,877
243,101
303,877
243,101
303,877
243,101
7,049,936

YEAR 10
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

607,753
303,877
243,101
182,326
1,093,956
2,431,013
303,877
243,101
303,877
243,101
303,877
243,101
303,877
243,101
7,049,936

831,933.00 $ 898,563.00 $ 812,055.00 $

526,988.00 $ 740,611.00 $ 735,158.00 $

958,200.00
579,064.00

1,358,921 $

1,639,174 $

1,547,213 $

8107427
1562759

8107427
1885050

8107427
1779295

1,537,264
8107427
1767854