Estate of Helen Bolton Jameson, Deceased, Northern Trust Bank of Texas N.A., Independent Executor - Page 59

  Inflation Rate         4%                                                                                    
  Timber Growth         10%                                                                                    
  Rate                                                                                                         
  Capital Gains         34%                                                                                    
  Tax Rate                                                                                                     
  Discount Rate         20%                                                                                    



                                                     TIMBER GROWTH         YEAR-END TIMBER CUTTING             
        Beginning   Fair Market   Adjusted Purchased Annual Year-End Units Basis Basis   Built-in  Capital     
                        Value                                                             Gains      Gains     
  Year    Timber    Total    Per   Basis Built-in  Growth Timber     Cut   Per  Allocat Recognized   Tax       
          Units              Unit           Gain            Units          Unit    ed                          

    1       100,000 $6,000,0$60.00 $217,85$5,782,1510,000   110,000 10,000 $1.98 $19,805  $580,195 $197,266    
                         00             0        0                                                             
    2       100,000 6,240,00 62.40 198,045 5,201,955 10,000 110,000 10,000  1.80 18,004    605,996   206,039   
                          0                                                                                    
    3       100,000 6,489,60 64.90 180,041 4,595,959 10,000 110,000 10,000  1.64 16,367    632,593   215,081   
                          0                                                                                    
    4       100,000 6,749,18 67.49 163,674 3,963,366 10,000 110,000 10,000  1.49 14,879    660,039   224,413   
                          4                                                                                    
    5       100,000 7,019,15 70.19 148,794 3,303,327 10,000 110,000 10,000  1.35 13,527    688,388   234,052   
                          1                                                                                    
    6       100,000 7,299,91 73.00 135,268 2,614,939 10,000 110,000 10,000  1.23 12,297    717,695   244,016   
                          7                                                                                    
    7       100,000 7,591,91 75.92 122,971 1,897,244 10,000 110,000 10,000  1.12 11,179    748,012   254,324   
                          4                                                                                    



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Last modified: May 25, 2011