Appendix A
ROSCREA TRUST
IBM, 3081, IBM PERIPHERALS, CONTROL DATA DISK DRIVES
COST $5,170,392
10-Dec-82 1982 1983 1984 1985 1986 1987 1988 1989 1990(D) 1990(E) 1990(F) 1990(G)
Rental income $820,445 $986,133 $986,133 $986,133 $986,133 $986,133 $986,133 $986,133 $986,133 $986,133 $986,133
Additional income (A) 1,675 30,000 117,500 260,000 260,000 245,000 245,000 245,000 245,000
Sale proceeds 930,671 1,163,338 1,396,006
Total income 820,445 986,133 987,808 1,016,133 1,103,633 1,246,133 1,246,133 1,231,133 2,161,804 2,394,471 2,627,139
Depreciation (B) $795,713 1,207,342 1,055,787 981,156 951,294 119,400 59,700
Interest 36,698 657,280 638,147 579,445 510,365 429,552 335,012 224,414 96,072 96,072 96,072 96,072
Total expenses 832,411 1,864,622 1,693,934 1,560,601 1,461,659 548,952 394,712 224,414 96,072 96,072 96,072 96,072
Taxable income (832,411) (1,044,177) (707,801) (572,793) (445,526) 554,681 851,421 1,021,719 1,135,061 2,065,732 2,298,399 2,531,067
Cash-flow
Tax benefit (Liability)(C) 416,205 522,089 353,900 286,396 222,763 (277,340) (425,710) (510,860) (567,531) (1,032,866) (1,149,200) (1,265,533)
Rental cash-flow 1,675 30,000 117,500 260,000 260,000 245,000 245,000 245,000 245,000
Sale proceeds 930,671 1,163,338 1,396,006
Gross benefit 416,205 522,089 353,900 288,071 252,763 (159,840) (165,710) (250,860) (322,531) 142,805 259,138 375,472
Less: capital invested 954,000
Annual benefit (537,795) 522,089 353,900 288,071 252,763 (159,840) (165,710) (250,860) (322,531) 142,805 259,138 375,472
Reinvest. @ 10% (27,675) 13,357 46,791 78,512 91,009 83,833 71,388 49,857 73,124 78,940 84,757
Cumulative benefit (D) (537,795) (43,381) 323,876 658,738 990,013 921,182 839,305 659,833 387,159 875,761 997,911 1,120,062
(A) THIS FIGURE ESTIMATES THE RELEASING REVENUES BEGINNING IN MONTH 37.
(B) CALCULATED USING ACCELERATED COST RECOVERY SYSTEM GUIDELINES FOR FOREIGN AND DOMESTIC PROPERTY.
(C) ASSUMES A 50% TAX RATE.
(D) AT ZERO RESIDUAL VALUE THE CUMULATIVE BENEFIT AMOUNTS TO 387,159.
(E) ASSUMES A SALE PRICE OF 20% LESS A 10% SELLING COMMISSION.
(F) ASSUMES A SALE PRICE OF 25% LESS A 10% SELLING COMMISSION.
(G) ASSUMES A SALE PRICE OF 30% LESS A 10% SELLING COMMISSION.
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