YR0 YR1 YR2 YR3 YR4 YR5 YR6 YR7 YR8 YR9 YR10

CAPEX (7,475,000)

DEP (1,245,833) (1,245,833) (1,245,833) (1,245,833) (1,245,833) (1,245,833)

REV
TPF 2,205,000 2,205,000 2,205,000 2,205,000 2,205,000 2,205,000 2,205,000 2,205,000 2,205,000 2,205,000
OM 342,000 342,000 342,000 342,000 342,000 342,000 342,000 342,000 342,000 342,000

OPEX
OM (285,000) (285,000) (285,000) (285,000) (285,000) (285,000) (285,000) (285,000) (285,000) (285,000)

EBIT 1,016,167 1,016,167 1,016,167 1,016,167 1,016,167 1,016,167 2,262,000 2,262,000 2,262,000 2,262,000

INT (414,240) (339,490) (264,740) (189,990) (115,240) (40,490) - - - -

EBT 601,927 676,677 751,427 826,177 900,927 975,677 2,262,000 2,262,000 2,262,000 2,262,000

TAX (150,482) (169,169) (187,857) (206,544) (225,232) (243,919) (565,500) (565,500) (565,500) (565,500)

NET 451,445 507,508 563,570 619,633 675,695 731,758 1,696,500 1,696,500 1,696,500 1,696,500

(estimated) GS to User (45,145) (50,751) (56,357) (61,963) (67,570) (73,176) (169,650) (169,650) (169,650) (169,650)

ABD 1,245,833 1,245,833 1,245,833 1,245,833 1,245,833 1,245,833 - - - -

FCF (7,475,000) 1,652,134 1,702,590 1,753,047 1,803,503 1,853,959 1,904,415 1,526,850 1,526,850 1,526,850 1,526,850

IRR 18.7%
DR 8%
NPV $3,592,987