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Chart 11
Computation of U.S. Company Taxable Income, Tax Savings, and Cash Flow With Estimated Residual Value Proceeds
(Assumes Early Termination)
Cash Flow
Taxable Income Share of Preferred Stock
Year From Taxes Partnership Dividend/ Pre-Tax Taxes After-Tax
Ending Partnership (Paid) Saved Cash Flow Redemption Cash Flow (Paid) Saved Cash Flow
12/31/93 ($6,297,776) $2,376,151 ($14,800,293) -0- ($14,800,293) $2,376,151 ($12,424,142)
12/31/94 (47,481,128) 17,914,630 -0- ($48,966) (48,966) 17,914,630 17,865,663
12/31/95 (29,423,700) 11,101,562 -0- (48,966) (48,966) 11,101,562 11,052,596
12/31/96 1,440,292 (543,422) 18,319,471 (48,966) 18,270,504 (543,422) 17,727,082
12/31/97 -0- -0- -0- (48,966) (48,966) -0- (48,966)
12/31/98 -0- -0- -0- (661,045) (661,045) -0- (661,045)
Total (81,762,312) 30,848,920 3,519,177 (856,910) 2,662,267 30,848,920 33,511,187
Chart 12
Computation of U.S. Company Taxable Income, Tax Savings, and Cash Flow Without Estimated Residual Value Proceeds
(Assumes Early Termination)
Cash Flow
Taxable Income Share of Preferred Stock
Year From Taxes Partnership Dividend/ Pre-Tax Taxes After-Tax
Ending Partnership (Paid) Saved Cash Flow Redemption Cash Flow (Paid) Saved Cash Flow
12/31/93 ($6,297,776) $2,376,151 ($14,800,293) -0- ($14,800,293) $2,376,151 ($12,424,142)
12/31/94 (47,481,128) 17,914,630 -0- ($48,966) (48,966) 17,914,630 17,865,663
12/31/95 (29,423,700) 11,101,562 -0- (48,966) (48,966) 11,101,562 11,052,596
12/31/96 (16,879,179) 6,368,514 -0- (48,966) (48,966) 6,368,514 6,319,548
12/31/97 -0- -0- -0- (48,966) (48,966) -0- (48,966)
12/31/98 -0- -0- -0- (661,045) (661,045) -0- (661,045)
Total (100,081,783) 37,760,857 (14,800,293) (856,910) (15,657,204) 37,760,857 22,103,653
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