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    Childrens Boutique

    Business Owners:

    Chance HoodJimmy Miranda

    Jazmin PillowRohini Rajput

    Chantal Spraggins

    BAA 609.A27 Corporate FinanceProfessor: Dr. Vijaya Subrahmanyam

    December 13, 2011Proposal number: 123-4567

    Lullabies & Mudpies 270 Saint Claire Drive, Alpharetta, GA 30004

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    Table of Contents

    Executive Summary 1Objective 1

    Analysis 2Start-Up Cost Analysis 2

    Assumptions 4Financials 7Calculated Decision Criteria Analysis 12Risk and Profitability 12

    Appendices 13

    Lullabies & Mudpies 270 Saint Claire Drive, Alpharetta, GA 30004

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    Executive Summary

    Objective

    Lullabies & Mudpies was inspired by our love for fashion and children. We will be located inFulton County, in a high-income area of suburban Atlanta. Our company will operate within

    the retail sector, offering clothing, accessories, and shoes for newborns, infants and

    toddlers. Our luxury clothing boutique will appeal to soon-to-be mothers, and their family

    and friends; who wish to purchase the best products for their babies.

    Each founding member will raise approximately $10,000, and we will secure a loan for

    approximately $33,000 to cover initial start-up costs.

    Our boutique will prosper in the baby retail industry, a niche that has yet to be tapped to itsfullest potential. Customers who enter our store will leave with a sense of satisfaction after

    witnessing a wide-variety of products in an upscale boutique filled with chic clothing for

    their bundles of joy.

    Lullabies & Mudpies Firm Valuation 1

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    Analysis

    Start-Up Cost Analysis

    Capital

    Each founding member will support the firm by contributing $9,900.95 to equity. We will

    secure the rest through debt in the amount of $33,003.18, to cover remaining start-up

    costs.

    Cash on Hand

    We calculated our cash on hand for our initial start-up costs by calculating the monthly

    expenses for the first 6 months of Year 1. The Monthly costs for Year 1 came up to

    $10,130.41, after dividing the total expense amount of $121,564.92 by 12. Please see the

    table below for more information.

    Lullabies & Mudpies Firm Valuation 2

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    Down Payment for LeaseLullabies & Mudpies will be locatedin a 1600 square foot store,located at the Shops at St. Claire.

    The address for the location is 270

    St. Claire Drive, Alpharetta, GA30004. The boutique will belocated in a high traffic, affluentsection of Alpharetta. The initialexpense in 2011 will be for thedown payment on the lease, whichis $1,466.67. We are under theassumption that we will be locked into a lease until 2015. This location is prime, and thelease rate is fairly low; more than likely because of the current state of the commercial realestate market.

    Furniture, Fixtures & Cash RegisterWe will purchase our furniture from west elm, fixtures and fittings from storesupply.com,and register from Dell (includes POS system).

    SecuritySecurity will be provided by an ADT alarm system. The quote for the security system isattached in the appendix.

    Initial Office Supplies

    Include all of the necessities to conduct business, as well as cleaning supplies. We areassuming that employees will divide the cleaning tasks to curb the costs of a cleaningservice.

    Incorporation FeesOur fees are based on the cost to start a corporation in Georgia. The subsequent renewalfees are based on Alpharettas business license renewal policy for 1 to 4 full-timeemployees.

    Inventory

    We will purchase a season worth of clothing at a time. The cost of $16,357.80 is based onthree months worth of inventory. We plan to purchase inventory from Childrens ClothingWholesale (childrensclothingwholesale.com) on a seasonal basis. Please see the attachedappendix for detail on the items purchased. The cost for the inventory is relativelyinexpensive compared to other wholesale sites. We will continue to research and findvendors that can beat this price in the future to improve our bottom line.

    Lullabies & Mudpies Firm Valuation 3

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    Assumptions

    Wages & Hiring

    We have based our hourly wages on the median salaries for Retail Store Managers,Managers Assistants, and Sales Associates retrieved from Salary.com. We will not offer

    benefits to employees, since we have to be conservative with our expenses. Please see

    the breakdown of wage information below. Based on our projections, we will not be able to

    afford hiring or expanding in the first 4 years. Therefore, our salaries and benefits rate

    increase will remain at 1% each year.

    Lullabies & Mudpies Firm Valuation 4

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    Growth & Revenue Estimations

    Because our comparables are larger and more established, we believe our sales rate

    increase will be approximately half of the 2011 average of the three firms sales revenue.

    Our sales rate increase is based on comparable childrens clothing retailers: Baby Gap,

    Childrens Place, and Carters. We have also lowered our sales rate increase percentage to

    account for our new entrance into the market.

    We anticipate that our sales will increase, based on the increase from 2010 to 2011. We

    will use the data from 2011 because it shows the stabilization of the economy post-

    recession. The previous years are biased due to the 2008 recession, and we believe that

    the 2011 sales rate increase is showing the recovery of the economy, and what a truesales rate increase for that market should be.

    We assume that there will be a 10% increase in the sales rate increase every year. Our

    sales are projected to increase based on the rate that we have calculated from this data.

    Lullabies & Mudpies Firm Valuation 5

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    Other Assumptions in Calculating Cash Flows

    The tax rate is assumed to be 40%.

    The Cost of Capital is based on the US Market as of 11/18/2011.

    The inflation rate is based on the actual rate, please see attached document.

    Average transactions per month are based on childrens boutiques located in the

    Atlanta area average transactions per month. We have lowered this number to account for

    our start-up standing. (Cutie Pies Childrens Boutique 770-396-1392, Feather Baby

    404-994-2780, Childrens Shop 404-365-8496) The average of the transactions based

    on our research came to 15 per day, or 450 each month. We have lowered the amount of

    transactions to 10 per day, due to our new entrance into the market.

    Lullabies & Mudpies Firm Valuation 6

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    LULLABIES AND MUDPIES CHILDREN'S CLOTHING BOUTIQUEFounders: Chance Hood, Jimmy Miranda, Jazmin Pillow, Rohini Rajput and Chantal Spraggins

    7

    Part A: Input Data

    Economic Life 4

    Salvage or Terminal Value $2,814.95

    Tax rate 40.00%

    Cost of capital 12.51%

    Average transactions per month 300

    Average transaction amount $50.00

    Sales price per unit $31.94

    Incremental cost per unit $5.41

    Inflation rate 3.53%

    Equity Raised by Founders $49,504.77

    Part B: Initial Expenses Capital Structure

    Cash on Hand $31,910.79 Equity 60.00% 49,504.77$

    Downpayment for Lease - 1 month rent $1,466.67 Debt 40.00% 33,003.18$

    Furniture, Fixtures & Cash Register $8,639.65 Total 100.00% 82,507.94$Freight & Installation for Fixtures & Fittings $299.23

    Security $134.00

    Initial Office Supplies $521.13

    Incorporation Fees $100.00

    Marketing Costs $23,078.67

    Initial Inventory $16,357.80Net CF $82,507.94

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    LULLABIES AND MUDPIES CHILDREN'S CLOTHING BOUTIQUEFounders: Chance Hood, Jimmy Miranda, Jazmin Pillow, Rohini Rajput and Chantal Spraggins

    8

    Depreciation Calculations

    Year % x Basis Depreciation

    1 15.00% $8,639.65 $1,295.95

    2 30.00% $8,639.65 $2,591.90

    3 40.00% $8,639.65 $3,455.86

    4 15.00% $8,639.65 $1,295.95

    2012 2013 2014 2015

    Sales Rate Increase 2.53% 2.78% 3.06% 3.37%

    Input Rate Increase 3.53% 3.88% 4.27% 4.70%

    Salaries + Benefits Rate Increase 1.00% 1.00% 1.00% 1.00% 1.00%

    Operating Costs 2012 2013 2014 2015

    Inventory $49,073.40 $67,251.94 $67,434.01 $67,634.29

    Credit Card Fees $12,601.03 $12,951.65 $13,348.06 $13,797.46

    Office Supplies $282.38 $283.35 $284.40 $285.57

    Corporation Fees $150.00 $150.00 $150.00 $150.00

    Marketing $6,354.00 $7,183.89 $8,144.17 $9,260.22

    Salaries/Wages $99,752.25 $100,749.77 $101,757.27 $102,774.84

    Building Lease/Rent/Utilities $17,600.04 $17,600.04 $17,600.04 $17,600.04

    Security/Alarm System $420.00 $420.00 $420.00 $420.00

    Insurance $1,000.00 $1,000.00 $1,000.00 $1,050.00

    Total $121,564.92 $138,043.74 $139,236.54 $140,694.59

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    LULLABIES AND MUDPIES CHILDREN'S CLOTHING BOUTIQUEFounders: Chance Hood, Jimmy Miranda, Jazmin Pillow, Rohini Rajput and Chantal Spraggins

    9

    Part C: Income Statement

    2011 2012 2013 2014 2015

    Cash on Hand ($31,910.79)

    Downpayment for Lease - 1 month rent ($1,466.67)

    Furniture, Fixtures & Cash Register ($8,639.65)

    Freight & Installation for Fixtures & Fittings ($299.23)

    Security ($134.00)

    Initial Office Supplies ($521.13)

    Incorporation Fees ($100.00)

    Marketing Costs ($23,078.67)

    Initial Inventory ($16,357.80)Operating Cash Flows over Project's Life

    Sales $180,000.00 $185,008.81 $190,671.83 $197,091.82

    Costs (from cost sheet) $121,564.92 $138,043.74 $139,236.54 $140,694.59

    Net Revenue $58,435.08 $46,965.07 $51,435.29 $56,397.23

    Depreciation $1,295.95 $2,591.90 $3,455.86 $1,295.95

    Before-tax-income $57,139.13 $44,373.18 $47,979.43 $55,101.28

    Taxes (40%) $22,855.65 $17,749.27 $19,191.77 $22,040.51

    NOPAT $34,283.48 $26,623.91 $28,787.66 $33,060.77

    Add Depreciation $1,295.95 $2,591.90 $3,455.86 $1,295.95

    Net Operating CF $35,579.43 $29,215.80 $32,243.52 $34,356.72

    Salvage Cash Flows $2,814.95

    After Tax Salvage Cash Flow from equipment $1,688.97

    Return of NOWC ($16,357.80)

    Net Cash Flows ($82,507.94) $35,579.43 $29,215.80 $32,243.52 $36,045.69

    Net Terminal Cash Flows at Year 4

    Salvage Value $2,814.95Tax on Salvage Value $1,688.97

    Recovery on NWC ($5,824.70)

    Net Terminal Cash Flow $36,045.69

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    LULLABIES AND MUDPIES CHILDREN'S CLOTHING BOUTIQUEFounders: Chance Hood, Jimmy Miranda, Jazmin Pillow, Rohini Rajput and Chantal Spraggins

    10

    Part D: Cost of Capital

    CAPM

    US Treasury Bond (30 yr) 3.027%

    Equity (Market) Risk Premium 8.613%

    Beta 1.50

    Cost of Equity 15.947%

    Bond Yield plus Risk PremiumCost of Debt (before tax) 12.242%

    Equity (Market) Risk Premium 8.613%

    20.855%

    Cost of Capital

    Component Weight Cost Weighted CostCommon Equity 60.00% 15.95% 9.57%

    Debt (after tax) 40.00% 7.35% 2.94%

    WACC 100.00% 23.29% 12.51%

    Part E: Capital Budgeting Analysis

    WACC 12.51%

    Payback 2.55years

    NPV $17,338.57

    IRR 22%

    MIRR 18%

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    LULLABIES AND MUDPIES CHILDREN'S CLOTHING BOUTIQUEFounders: Chance Hood, Jimmy Miranda, Jazmin Pillow, Rohini Rajput and Chantal Spraggins

    11

    Part F. Risk Analysis

    % DeviationFrom NPV

    Base Case WACC $17,338.57-30.00% 8.75% $25,743.60

    -15.00% 10.63% $21,400.87

    0.00% 12.51% $17,338.57 Base Case15.00% 14.38% $13,533.19

    30.00% 16.26% $9,963.58

    WACC

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    Calculated Decision Criteria Analysis

    We will accept this project due to the positive NPV of $17,338.57. The IRR of 22% is

    greater than the WACC of 12.51%. Additionally, the MIRR, which is 18% is greater thanthe WACC, which further confirms our decision to move forward with this project.

    Risk and Profitabil ityThe risk associated with retail, in particular boutiques is relative high, compared to markets

    selling necessities. For example, even though cars are expensive, people will continue to

    purchase them out of need. Unfortunately, consumers may not need high-end childrens

    clothes, and can substitute them at a store with lower prices, such as Walmart or Target.

    Boutiques are a niche market, and Childrens Boutiques narrows the probability of

    profitability even further. We plan to enter the market during a boom, when consumers

    have more disposable income, and can afford luxury products. According to market data,

    consumers in Alpharetta, and other high-income cities in the United States continue to

    purchase luxury items; despite economic turmoil.

    We may be able to increase the profitability of the firm by decreasing inventory expenses in

    the future. We plan on doing this by building relationships with vendors and receiving our

    cases for even cheaper rates. We can also pursue cheaper marketing strategies, such as

    social networking and word-of-mouth, once we have an established presence in the

    market.

    Lullabies & Mudpies Firm Valuation 12

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    Appendices

    Lullabies & Mudpies Firm Valuation 13

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    Appendix

    Monthly Payment Sources Comments

    Art work 1,197.00$ 2modern.comCash Register/POS 4,082.90$ /business/point-of-sale-s One time fee

    Furniture - Chairs 1,198.00$ westelm.comTax on Furniture 161.00$ westelm.com

    Fixtures & Fittings 2,000.75$ store supply.comShipping 299.23$ store supply.comTOTAL STARTUP COSTS 8,938.88

    Category Avg. Sales Price Avg. Increm. Cost Sales Price Incre. Cost eights/Transaction*

    Accessories 15.00$ 1.50$ 3.30$ 0.33$ 22%

    Outerwear 60.00$ 7.50$ 8.40$ 1.05$ 14%Bottoms 28.50$ 6.00$ 4.75$ 1.00$ 17%

    Tops 23.50$ 5.00$ 3.92$ 0.83$ 17%

    Dresses 40.00$ 7.00$ 8.00$ 1.40$ 20%Shoes 32.50$ 7.25$ 3.58$ 0.80$ 11%

    199.50$ 34.25$ 31.94$ 5.41$ 100%

    *Assuming the probability of categories being chosen per transaction

    Source: Office Depot

    Administrative Supplies

    Office Depot Single-Ply Thermal

    Print Rolls $20.99

    3-Drawer Letter-Size Vertical FileCabinet $99.99

    Manila Folders $6.59Hanging Folders $6.20

    Binders $25.90

    Printer $129.99Printer Paper $39.99

    Toner $44.99

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    Appendix

    Clorox Disinfecting Wipes $29.95

    Lysol Disinfectant Spray $27.96

    Toilet Paper $33.99Paper Towels $15.99

    Subtotal $482.53Taxes $38.60

    Total $521.13Total for Non-recurringSupplies $272.75

    Source: ADT

    Security

    Initial Fee $99.00Monthly Fee $35.00

    Total $134.00

    Source: Loopnet, Location: Shopsat St. Claire, 270 St. Claire Drive,Alpharetta, GA

    Lease Information

    Down Payment $1,466.67Rental Rate + Utilities per month $1,466.67

    Source: Alpharetta BusinessLicense Board, GeorgiaCorporation Fee

    Incorporation Costs

    Business License InformationInitial Business Registration Fee $100.00

    Annual Occupational Tax (for 1-4

    FT Employees) $100.00Administrative Fee $50.00

    Total Annual Amount $150.00

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    Appendix

    Marketing Expenses

    Source: Advantage FulfillmentServices

    3000 5.5x8.5 Post Cards,Designed, Printed & Mailed $999.99Stream Send Email Marketing $19.90 $238.80

    Website $4.99 $59.88Radio Slots $363.00 $21,780.00

    Total $23,078.67

    Salvage Value Information Hours of Operation

    West Elm Chairs $250.00 $500.00 Monday 10 am - 6 pm 8

    Tables $100.00 $300.00 Tuesday 10 am - 6 pm 8

    Nesting Tables $150.00 $300.00 Wednesday 10 am - 6 pm 8Slat Wall Panels $25.00 $150.00 Thursday 10 am - 6 pm 8Cash Register $1,564.95 $1,564.95 Friday 10 am - 6 pm 8

    Total in Salvage Value $2,814.95 Saturday 10 am - 8 pm 10

    Sunday noon - 6 pm 6

    Salary Information 56

    Hourly Wage Hours Per Week Salaries from salary.com

    Retail Store Manager $23.78 40 $951.27 $49,466Retail Store Manager Assistant $18.90 30 $567.04 $39,315

    Part-Time Sales Associate $10.00 20 $200.00Part-Time Sales Associate 2 $10.00 20 $200.00

    40 hours x 52 weeks 2080Total Weekly Payroll $1,918.31

    Annual Payroll $99,752.25

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    Appendix

    Source: Eastern Infants Inc. DBA,ChildrensClothingWholesale.com Inventory Order MonthsTotal Amount $5,452.60 3 $16,357.80

    See attached printout of cart ofintiial inventory

    Operating Costs 2012

    Inventory $49,073.40

    Credit Card Fees $12,601.03Office Supplies $282.38

    Corporation Fees $150.00Marketing $6,354.00

    Salaries/Wages $99,752.25Building Lease/Rent/Utilities $17,600.04Security/Alarm System $420.00

    Insurance $1,000.00

    Total $121,564.92

    Cash on Hand Calculations Monthly Costs Cash on Hand

    1st Month 90.00% $10,130.41 $9,117.37

    2nd Month 75.00% $10,130.41 $7,597.813rd Month 60.00% $10,130.41 $6,078.25

    4th Month 45.00% $10,130.41 $4,558.685th Month 30.00% $10,130.41 $3,039.12

    6th Month 15.00% $10,130.41 $1,519.56

    Total Cash on Hand $31,910.79

    Sales Revenue

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    Appendix

    2011 2010 2009 2008 2007

    Gap 14,664,000$ 14,197,000$ 14,526,000$ 15,760,000$ 15,943,000$

    Sales Rate Increase/Decrease 3.29% -2.26% -7.83% -1.15%

    Children's Place 1,673,999$ 1,643,587$ 1,630,323$ 2,162,559$ 2,017,713$

    Sales Rate Increase/Decrease 1.85% 0.81% -24.61% 7.18%

    Carter's Inc. 1,749,256$ 1,589,677$ 1,490,016$ 1,412,246$ 1,343,467$

    Sales Rate Increase/Decrease 10.04% 6.69% 5.51% 5.12%

    Sales Rate Average 5.06% 1.75% -8.98% 3.72%

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    Print all the details of this listing in a proper format by clicking the Print Listing link onthe right-hand side of each listing.

    Back to Search Results Next RePrevious Result 12 of 52

    Retail Property For Lease

    3 Spaces Available

    Shops at St. Claire270 St. Claire Drive, Alpharetta, GA 30004

    Total Space Available: 5,600 SF

    Rental Rate: $0.92/SF/MonthMin. Divisible: 1,600 SF

    Max. Contiguous: 4,000 SF

    Property Type: Retail

    Property Sub-type: Strip Center

    Gross Leasable Area: 5,600 SF

    Find Out More...

    Last Verified 10/28/2011Listing ID 17263402

    Space 103 Space Available: 1,600 SF

    Rental Rate: $1,466.67/MonthSpace Type: Strip Center

    Min. Divisible: 1,600 SF

    Max. Contiguous: 4,000 SF

    Lease Type: NNN

    Space 100 Space Available: 1,600 SF

    Rental Rate: $1,466.67/MonthSpace Type: Strip Center

    Lease Type: NNN

    Space 104 Space Available: 2,400 SF

    Rental Rate: $2,200/MonthSpace Type: Strip Center

    Min. Divisible: 2,400 SF

    Max. Contiguous: 4,000 SF

    Lease Type: NNN

    Description

    1,600 SF - 4,000 SF Retail Space Available in affluent area of Alpharetta, north of Atlanta.

    Located at the intersection of McFarland Road and St. Claire Drive; Within Close proximity to GA-400.

    Display Rental Rate as $ Amt/Month

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    shows as 3.01%. Therefore instead of the inflation rate being "flat" it is actually rising slightly. In anotherexample we see August 2003 and September with the Government saying the rates were 2.2% and 2.3%respectively. This would lead us to believe that inflation rose .1% during that period. In actuality however, itrose from 2.16% to 2.32% or a .16% increase, substantially more than .1%!

    The Inflation table below is updated monthly and provides the current US Inflation Rate plus Monthly InflatioRate data back to January 2000. The Inflation rate is calculated using the Current Consumer Price Index (CPI-U) published monthly by the Bureau of Labor Statistics. CPI Index Release Dates

    InflationData.com Current Annual Inflation Rate

    Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec A

    2011 1.63% 2.11% 2.68% 3.16% 3.57% 3.56% 3.63% 3.77% 3.87% 3.53% NA NA NA

    2010 2.63% 2.14% 2.31% 2.24% 2.02% 1.05% 1.24% 1.15% 1.14% 1.17% 1.14% 1.50% 1.64%

    2009 0.03% 0.24% -0.38% -0.74% -1.28% -1.43% -2.10% -1.48% -1.29% -0.18% 1.84% 2.72% -0.34

    2008 4.28% 4.03% 3.98% 3.94% 4.18% 5.02% 5.60% 5.37% 4.94% 3.66% 1.07% 0.09% 3.85%

    2007 2.08% 2.42% 2.78% 2.57% 2.69% 2.69% 2.36% 1.97% 2.76% 3.54% 4.31% 4.08% 2.85%

    2006 3.99% 3.60% 3.36% 3.55% 4.17% 4.32% 4.15% 3.82% 2.06% 1.31% 1.97% 2.54% 3.24%

    2005 2.97% 3.01% 3.15% 3.51% 2.80% 2.53% 3.17% 3.64% 4.69% 4.35% 3.46% 3.42% 3.39%

    2004 1.93% 1.69% 1.74% 2.29% 3.05% 3.27% 2.99% 2.65% 2.54% 3.19% 3.52% 3.26% 2.68%

    2003 2.60% 2.98% 3.02% 2.22% 2.06% 2.11% 2.11% 2.16% 2.32% 2.04% 1.77% 1.88% 2.27%

    2002 1.14% 1.14% 1.48% 1.64% 1.18% 1.07% 1.46% 1.80% 1.51% 2.03% 2.20% 2.38% 1.59%

    2001 3.73% 3.53% 2.92% 3.27% 3.62% 3.25% 2.72% 2.72% 2.65% 2.13% 1.90% 1.55% 2.83%

    2000 2.74% 3.22% 3.76% 3.07% 3.19% 3.73% 3.66% 3.41% 3.45% 3.45% 3.45% 3.39% 3.38%Note: Red indicates Deflation, NA indicates data not yet released.

    Get more Historical Data from InflationData.com

    To calculate inflation from a month and year to a later month and year, Try our Inflation calculator

    8 people +1'd this

    We also post the previous Inflation Rates in our Historical Inflation Tables. The Historical Consumer PriceIndex is also available in table format. What's the Difference Between the Consumer Price Index and InflationYou can instantly see the current inflation trend in our chart of the Annual Inflation Rate.

    Interestingly, over time Webster's definition of Inflation has changed. But the Method of Calculating theInflation Rate has not.

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    Shipping To:Williams-Sonoma HomeWilliams-SonomaPBTeenPottery Barn KidsPottery Barn

    Home > Furniture > Seating > Chairs + Ottomans > Elton ChairPREVIOUS

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    CHAIR

    SELECT: Special Order Fabric

    Special Order Fabric Stock Fabric

    FABRIC: Cotton Basketweave

    Cotton Basketweave Faux Suede Marled Microfiber

    Performance Velvet Chunky Weave Chunky Basketweave

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    $499.00Delivery Surcharge: $50.00

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    ELTON CHAIRELTON CHAIR

    $499.00 $599.00New Color

    Please note that special order items require 10 12 weeks delivery and are non-refundable.

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    DIMENSIONS & CAREDIMENSIONS & CARE SHIPPING INFOSHIPPING INFOOVERVIEWOVERVIEW

    The right tuft. This library chair is a masterful mix of comfort and style, with

    arms at the perfect height for reading and a wide, well-padded seat. The

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    Detailed with button tufting.

    32.25"w x 31"d x 32.5"h.

    In-stock colors and fabrics receive delivery in 1 3 weeks.

    Special order upholstery fabrics receive delivery in 10 12 weeks.

    Minimal assembly required.

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    Imported.

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    FILING PROCEDURES FOR

    GEORGIA PROFIT AND NONPROFIT CORPORATIONS

    Corporations are formed by filing articles of incorporation with the Secretary of State. The minimumfiling requirements of Georgia law are outlined herein. Many other provisions may, and perhaps should,be included in the articles. It is very simple to incorporate. The question of whether or not a person orentity should incorporate is complex. The Corporations Division strongly recommends that filers obtainprofessional legal, tax and/or business advice to assure the filers goals and intentions are met, and

    that requirements of the law are satisfied, both before and after incorporation.

    Name Reservation.

    A name may be reserved prior to filing. A reservation fee of $25 must accompany the request. Thereservation may be made at the Corporations Division web site, http://www.georgiacorporations.org. A

    number that remains in effect for 30 days will be provided by return e-mail within 24 hours of receipt ofthe request, and often sooner. Place the number on the Transmittal Form 227 that is filed with the articlesof incorporation. A reservation number may also be obtained by writing to the Division at the aboveaddress. Please provide the name, address and telephone number of the person making the request.Reservations are not available by telephone. Filings are accepted without a name reservation.

    Preparation of Articles of Incorporation.Articles of incorporation must include the information described in O.C.G.A. 14-2-202 (profit) orO.C.G.A. 14-3-202 (nonprofit). Articles must be submitted on white 8x11 paper. An incorporatornamed in the articles or the filing attorney should sign articles of incorporation. If the Chairman of theBoard of Directors or corporate officer of a profit corporation has been elected, he or she may sign thearticles. Beneath the signature, the signer should indicate in what capacity he or she is signing.

    Filing of Articles of Incorporation and Data Transmittal Form 227.The original and one copy of the articles of incorporation, a completed Transmittal Form 227, and the$100.00 filing fee should be mailed to the Corporations Division at the above address. Checks should bemade payable to Secretary of State. Articles of incorporation are effective on the date received by theCorporations Division unless a post-effective date is specified therein. A certificate of incorporation willbe mailed to the applicant, usually in five to seven business days. Workload issues will sometimesresult in a longer turnaround time, perhaps up to 12 business days. Filings that are not complete will bereturned to the applicant along with a notice that describes the deficiency. If corrected and returned within60 days the initial date of receipt will be the date of incorporation.

    Corporate Officers and Annual Registration.

    Within 90 days of incorporation, each Georgia corporation must file an initial annual registration formthat lists three principal officers with the Secretary of State. The fee is $50. The registration form shouldbe filed online at georgiacorporations.org. Corporations that form between October 2 and December 31file the initial form between January 1 and April 1 of the ensuing year. Changes to the corporate addressand/or officers throughout the year are made by filing another registration form and paying the $30 fee.A corporation that does not submit its annual registration is subject to administrative dissolution. There isa $100 fee, plus past due registration fees, to reinstate an administratively dissolved corporation.

    PROFIT CORPORATIONS.

    OFFICE OF SECRETARY OF STATE

    CORPORATIONS DIVISION

    313 West Tower, 2 Martin Luther King, Jr. DriveAtlanta, Georgia 30334-1530

    (404) 656-2817Registered agent, officer, entity status information via the Internet

    sos.georgia.gov/corporationsBrian P. KempSecretary of State

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    5SKIRT AND PANT HANGERS - PLASTIC - CLEAR - 25122

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    Eastern Infants Wear Inc DBA

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    Boys 8-18: Call for Boys Better Make 2 Pc Suits 7 thru 20 Item15000[remove]

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    Girls Newborn: ASSORTED Girls SPRING SHORTS 0-24MONTHS Item 999909[remove]

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    Girls Newborn: Little Giraffe Girls Applique Tank Dress 6,12 mosItem 9122[remove]

    $5.85 24 $140.40

    Girls Newborn: Snopea Girls Spring Dress Set 6,9,12,18,24 mos

    Item 61007[remove]

    $6.75 24 $162.00

    Girls Newborn: Snopea Girls Better Spring Dress 6 thru 24 mosItem CCW19753[remove]

    $6.75 24 $162.00

    Girls Infant: Mish Mish Girls Better Spring Dresses 12,18,24 mosItem 80001[remove]

    $7.75 24 $186.00

    Girls Infant: Call for Girls Seersucker Dress 12,18,24 mos Item37202[remove]

    $6.75 12 $81.00

    Girls 2-4: Private Label Girls Velcro Closure Sandals 5,6,7,8,9,10Item 15054[remove]

    $3.75 12 $45.00

    Girls 2-4: Dora Girls Dora Socktop Slippers 5/6,7/8,9/10 Item

    15103[remove]

    $4.50 18 $81.00

    Girls 2-4: Dora Girls License Beachcomber Sandal 7/8,9/10,11/12Item 15079[remove]

    $2.50 18 $45.00

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    Boys 2-4: Private Label Girls Unisex Rainboot 7,8,9,10,11 Item15122[remove]

    $4.00 12 $48.00

    Boys 2-4: Elmo Boys Elmo Sock Top Slipper 5/6,7/8,9/10 Item

    15100[remove]

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    Boys 2-4: Elmo Boys Elmo Puppet Top Slipper 5/6,7/8,9/10 Item15104

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    Boys 2-4: Cookie Monster Boys License Socktop Slipper 5/6,7/8,9/10Item 15105[remove]

    $4.50 18 $81.00

    Boys 2-4: Private label Boys Footbed Sandal 5,6,7,8,9,10 Item 15055[remove]

    $3.00 12 $36.00

    Boys Newborn: Cloud Mine Boys Better Short Sets 3,6 mos Item6165[remove]

    $8.90 24 $213.60

    Boys Newborn: Little Giraffe Girls Short Sleeved Applique Romper6,12 mos Item 9121[remove]

    $3.50 48 $168.00

    Boys Newborn: Little Giraffe Girls Fall 3 Pc Jacket/Pant Set 6,12mos Item 9125

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    Boys Newborn: Little Giraffe Girls Long Sleeve Applique Romper6m,12m Item 9126[remove]

    $4.00 24 $96.00

    Boys Newborn: Snopea Boys Better Short Sets 6,9,12,18,24 mosItem CCW19746[remove]

    $6.75 12 $81.00

    Boys Newborn: Mish Mish Boys Fall Pant Sets 3,6,9 mos ItemCCW9776

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    Girls Newborn: Cloud Mine Girls Better Short Sets 3,6 mos Item6166[remove]

    $8.90 24 $213.60

    Girls Newborn: Mis-tee-v-us Girls Better Short Sets 6 thru 24 mosItem 6170[remove]

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    Girls Newborn: Snopea Girls Better Short Sets 6 thru 24 mosItem CCW19752[remove]

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    Boys Newborn: My Swim Pal Girls Lined Swim Diapers 6m, 12m.18m, 2t, 3t, 4t Item A0902[remove]

    $2.75 32 $88.00

    Boys Newborn: ASSORTED Boys SWIMSUITS 6,12,18,24 MOS

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    Boys Infant: Mish Mish Boys Short Sleeve Screen Print Tee6,12,18,24 mos Item CCW6150[remove]

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    Boys Infant: Wild Mango Boys Fashion Spring Tops 12,18,24 mosItem CCW7509[remove]

    $5.90 12 $70.80

    Boys Infant: Mish Mish Boys Print Short Sleeve Top 6,12,18,24 mosItem CCW6149

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    Boys Infant: Mulberribush Boys L/S Printed Knit Top 6,12,18,24mos Item 3950[remove]

    $2.75 6 $16.50

    Girls 4-6x: Katnap Girls Horse Blanket Sleeper 4/5,6/8,10/12,14/16Item 19323[remove]

    $8.50 12 $102.00

    Boys 4-7: Katnap Boys Camo Blanket Sleepers 4/5,6/8,10/12,14/16Item 19320[remove]

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    Girls 4-6x: Katnap Girls Monkey Blanket Sleeper4/5,6/8,10/12,14/16 Item 19322[remove]

    $8.50 12 $102.00

    Boys 8-18: Oshkosh Boys Bib Snowpant 8,10 ONLY Item 58175[remove]

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    R Raj Fwd: Merchant acquiring model for small business

    December 12, 2011 9:44:54 AM EST

    Chantal Spraggins , Chance Hood , Jazmin Pillow , Jim Miranda

    1 Attachment, 1.4 KB

    Chantal, here is the source and clarification on the credit card fees model we incorporated in our finance project.

    ---------- Forwarded message ----------From:Ashish Sawant Date: Sun, Dec 11, 2011 at 10:16 PMSubject: Merchant acquiring model for small businessTo: [email protected]

    Hi Roni,

    Based on the model you provided I would recommend using the following assumptions:

    - Per transaction flat fee: $0.10 (for the current per month transaction volume in your model)- Per transaction %age fee: 3% (for the current per month transaction volume in your model)- For small to mid-size business I would assume a credit/ debit vs. cash breakdown as 70-30.

    Please let me know if you have any questions.

    Ashish

    Ashish Sawant

    Operations Manager, Financial Services

    250 Williams St.

    Atlanta, Georgia 30303

    404.935.0368 Office

    678.643.3875 Cell

    [email protected]

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    Home / Refurbished POS Systems / Refurbished Retail POS / Point of Sale Touch System POS Retail Bundle + Software

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