of 31/31
Example 1 Project IRR and Equity IRR Assumptions Construction Cost \$1,000,000 Annual Rental Inco \$120,000 Sale Value \$1,607,023 Project Cash flow Year 0 Year 1 Year 2 Year 3 Year 4 Construction Cost ### - - - - Rental Income - ### ### ### ### Sale Value - - - - - Total Cash Flow ### ### ### ### ### IRR 15.0%

# Project IRR Equity IRR

• View
260

3

Embed Size (px)

DESCRIPTION

How to calculate the IRR

### Text of Project IRR Equity IRR

Example 1Example 1Project IRR and Equity IRRAssumptionsConstruction Cost\$1,000,000Annual Rental Income\$120,000Sale Value\$1,607,023

Project Cash flowYear 0Year 1Year 2Year 3Year 4Year 5Year 6Year 7Year 8Year 9Year 10Construction Cost(1,000,000)0.00.00.00.00.00.00.00.00.00.0Rental Income0.0120,000120,000120,000120,000120,000120,000120,000120,000120,000120,000Sale Value0.00.00.00.00.00.00.00.00.00.01,607,023Total Cash Flow(1,000,000)120,000120,000120,000120,000120,000120,000120,000120,000120,0001,727,023IRR15.0%

Example 2Example 2Project IRR and Equity IRRAssumptionsConstruction Cost\$1,000,000Annual Rental Income\$120,000Sale Value\$1,607,023

Equity Contribution30%Debt Contribution70%Cost of Equity 14%Cost of Debt8%Wt. Average Cost of Capital9.8%

Project Cash flowYear 0Year 1Year 2Year 3Year 4Year 5Year 6Year 7Year 8Year 9Year 10Construction Cost(1,000,000)0.00.00.00.00.00.00.00.00.00.0Rental Income0.0120,000120,000120,000120,000120,000120,000120,000120,000120,000120,000Sale Value0.00.00.00.00.00.00.00.00.00.01,607,023Total Cash Flow(1,000,000)120,000120,000120,000120,000120,000120,000120,000120,000120,0001,727,023Project IRR15.0%Financing Cash flowLoan Drawdown700,0000.00.00.00.00.00.00.00.00.00.0Equity Contribution300,0000.00.00.00.00.00.00.00.00.00.0Interest + PrincipalPayment0.0(104,321)(104,321)(104,321)(104,321)(104,321)(104,321)(104,321)(104,321)(104,321)(104,321)Net Cash Flow 0.015,67915,67915,67915,67915,67915,67915,67915,67915,6791,622,702Cash Flow to Equity Holders(300,000)15,67915,67915,67915,67915,67915,67915,67915,67915,6791,622,702

Equity IRR21.1%

Relationship IRR-Debt Feasibility.proProject IRR and Equity IRR

SnProject IRRCost of DebtEquity IRR115.0%7.0%22.0%215.0%8.0%21.1%315.0%9.0%20.2%415.0%10.0%19.4%515.0%11.0%18.5%615.0%12.0%17.6%715.0%13.0%16.7%815.0%14.0%15.9%915.0%15.0%15.0%1015.0%16.0%14.1%1115.0%17.0%13.3%1215.0%18.0%12.4%1315.0%19.0%11.6%1415.0%20.0%10.7%1515.0%21.0%9.9%1615.0%22.0%9.1%1715.0%23.0%8.3%1815.0%24.0%7.5%1915.0%25.0%6.7%

Project IRR and Equity IRR

Loan Amortization ScheduleLoan Amortization Schedule

Enter valuesLoan summaryLoan amount700,000Scheduled payment104,321Annual interest rate8.00?%Scheduled number of payments10Loan period in years10Actual number of payments10Number of payments per year1Total early payments0.0Start date of loanOct-15Total interest343,206Optional extra payments

Lender name:XYZ Corp

Pmt. No.Payment DateBeginning BalanceScheduled PaymentExtra PaymentTotal PaymentPrincipalInterestEnding BalanceCumulative Interest

1Oct-16700,000104,3210.0104,32148,32156,000651,67956,0002Oct-17651,679104,3210.0104,32152,18652,134599,493108,1343Oct-18599,493104,3210.0104,32156,36147,959543,132156,0944Oct-19543,132104,3210.0104,32160,87043,451482,262199,5445Oct-20482,262104,3210.0104,32165,74038,581416,522238,1256Oct-21416,522104,3210.0104,32170,99933,322345,523271,4477Oct-22345,523104,3210.0104,32176,67927,642268,844299,0898Oct-23268,844104,3210.0104,32182,81321,508186,031320,5969Oct-24186,031104,3210.0104,32189,43814,88396,593335,47910Oct-2596,593104,3210.096,59388,8667,7270.0343,2061110/21/260.0\$104,320.640.00.00.00.00.0\$343,206.421210/21/270.0\$104,320.640.00.00.00.00.0\$343,206.421310/21/280.0\$104,320.640.00.00.00.00.0\$343,206.421410/21/290.0\$104,320.640.00.00.00.00.0\$343,206.421510/21/300.0\$104,320.640.00.00.00.00.0\$343,206.421610/21/310.0\$104,320.640.00.00.00.00.0\$343,206.421710/21/320.0\$104,320.640.00.00.00.00.0\$343,206.421810/21/330.0\$104,320.640.00.00.00.00.0\$343,206.421910/21/340.0\$104,320.640.00.00.00.00.0\$343,206.422010/21/350.0\$104,320.640.00.00.00.00.0\$343,206.422110/21/360.0\$104,320.640.00.00.00.00.0\$343,206.422210/21/370.0\$104,320.640.00.00.00.00.0\$343,206.422310/21/380.0\$104,320.640.00.00.00.00.0\$343,206.422410/21/390.0\$104,320.640.00.00.00.00.0\$343,206.422510/21/400.0\$104,320.640.00.00.00.00.0\$343,206.422610/21/410.0\$104,320.640.00.00.00.00.0\$343,206.422710/21/420.0\$104,320.640.00.00.00.00.0\$343,206.422810/21/430.0\$104,320.640.00.00.00.00.0\$343,206.422910/21/440.0\$104,320.640.00.00.00.00.0\$343,206.423010/21/450.0\$104,320.640.00.00.00.00.0\$343,206.423110/21/460.0\$104,320.640.00.00.00.00.0\$343,206.423210/21/470.0\$104,320.640.00.00.00.00.0\$343,206.423310/21/480.0\$104,320.640.00.00.00.00.0\$343,206.423410/21/490.0\$104,320.640.00.00.00.00.0\$343,206.423510/21/500.0\$104,320.640.00.00.00.00.0\$343,206.423610/21/510.0\$104,320.640.00.00.00.00.0\$343,206.423710/21/520.0\$104,320.640.00.00.00.00.0\$343,206.423810/21/530.0\$104,320.640.00.00.00.00.0\$343,206.423910/21/540.0\$104,320.640.00.00.00.00.0\$343,206.424010/21/550.0\$104,320.640.00.00.00.00.0\$343,206.424110/21/560.0\$104,320.640.00.00.00.00.0\$343,206.424210/21/570.0\$104,320.640.00.00.00.00.0\$343,206.424310/21/580.0\$104,320.640.00.00.00.00.0\$343,206.424410/21/590.0\$104,320.640.00.00.00.00.0\$343,206.424510/21/600.0\$104,320.640.00.00.00.00.0\$343,206.424610/21/610.0\$104,320.640.00.00.00.00.0\$343,206.424710/21/620.0\$104,320.640.00.00.00.00.0\$343,206.424810/21/630.0\$104,320.640.00.00.00.00.0\$343,206.424910/21/640.0\$104,320.640.00.00.00.00.0\$343,206.425010/21/650.0\$104,320.640.00.00.00.00.0\$343,206.425110/21/660.0\$104,320.640.00.00.00.00.0\$343,206.425210/21/670.0\$104,320.640.00.00.00.00.0\$343,206.425310/21/680.0\$104,320.640.00.00.00.00.0\$343,206.425410/21/690.0\$104,320.640.00.00.00.00.0\$343,206.425510/21/700.0\$104,320.640.00.00.00.00.0\$343,206.425610/21/710.0\$104,320.640.00.00.00.00.0\$343,206.425710/21/720.0\$104,320.640.00.00.00.00.0\$343,206.425810/21/730.0\$104,320.640.00.00.00.00.0\$343,206.425910/21/740.0\$104,320.640.00.00.00.00.0\$343,206.426010/21/750.0\$104,320.640.00.00.00.00.0\$343,206.426110/21/760.0\$104,320.640.00.00.00.00.0\$343,206.426210/21/770.0\$104,320.640.00.00.00.00.0\$343,206.426310/21/780.0\$104,320.640.00.00.00.00.0\$343,206.426410/21/790.0\$104,320.640.00.00.00.00.0\$343,206.426510/21/800.0\$104,320.640.00.00.00.00.0\$343,206.426610/21/810.0\$104,320.640.00.00.00.00.0\$343,206.426710/21/820.0\$104,320.640.00.00.00.00.0\$343,206.426810/21/830.0\$104,320.640.00.00.00.00.0\$343,206.426910/21/840.0\$104,320.640.00.00.00.00.0\$343,206.427010/21/850.0\$104,320.640.00.00.00.00.0\$343,206.427110/21/860.0\$104,320.640.00.00.00.00.0\$343,206.427210/21/870.0\$104,320.640.00.00.00.00.0\$343,206.427310/21/880.0\$104,320.640.00.00.00.00.0\$343,206.427410/21/890.0\$104,320.640.00.00.00.00.0\$343,206.427510/21/900.0\$104,320.640.00.00.00.00.0\$343,206.427610/21/910.0\$104,320.640.00.00.00.00.0\$343,206.427710/21/920.0\$104,320.640.00.00.00.00.0\$343,206.427810/21/930.0\$104,320.640.00.00.00.00.0\$343,206.427910/21/940.0\$104,320.640.00.00.00.00.0\$343,206.428010/21/950.0\$104,320.640.00.00.00.00.0\$343,206.428110/21/960.0\$104,320.640.00.00.00.00.0\$343,206.428210/21/970.0\$104,320.640.00.00.00.00.0\$343,206.428310/21/980.0\$104,320.640.00.00.00.00.0\$343,206.428410/21/990.0\$104,320.640.00.00.00.00.0\$343,206.428510/21/000.0\$104,320.640.00.00.00.00.0\$343,206.428610/21/010.0\$104,320.640.00.00.00.00.0\$343,206.428710/21/020.0\$104,320.640.00.00.00.00.0\$343,206.428810/21/030.0\$104,320.640.00.00.00.00.0\$343,206.428910/21/040.0\$104,320.640.00.00.00.00.0\$343,206.429010/21/050.0\$104,320.640.00.00.00.00.0\$343,206.429110/21/060.0\$104,320.640.00.00.00.00.0\$343,206.429210/21/070.0\$104,320.640.00.00.00.00.0\$343,206.429310/21/080.0\$104,320.640.00.00.00.00.0\$343,206.429410/21/090.0\$104,320.640.00.00.00.00.0\$343,206.429510/21/100.0\$104,320.640.00.00.00.00.0\$343,206.429610/21/110.0\$104,320.640.00.00.00.00.0\$343,206.429710/21/120.0\$104,320.640.00.00.00.00.0\$343,206.429810/21/130.0\$104,320.640.00.00.00.00.0\$343,206.429910/21/140.0\$104,320.640.00.00.00.00.0\$343,206.4210010/21/150.0\$104,320.640.00.00.00.00.0\$343,206.4210110/21/160.0\$104,320.640.00.00.00.00.0\$343,206.4210210/21/170.0\$104,320.640.00.00.00.00.0\$343,206.4210310/21/180.0\$104,320.640.00.00.00.00.0\$343,206.4210410/21/190.0\$104,320.640.00.00.00.00.0\$343,206.4210510/21/200.0\$104,320.640.00.00.00.00.0\$343,206.4210610/21/210.0\$104,320.640.00.00.00.00.0\$343,206.4210710/21/220.0\$104,320.640.00.00.00.00.0\$343,206.4210810/21/230.0\$104,320.640.00.00.00.00.0\$343,206.4210910/21/240.0\$104,320.640.00.00.00.00.0\$343,206.4211010/21/250.0\$104,320.640.00.00.00.00.0\$343,206.4211110/21/260.0\$104,320.640.00.00.00.00.0\$343,206.4211210/21/270.0\$104,320.640.00.00.00.00.0\$343,206.4211310/21/280.0\$104,320.640.00.00.00.00.0\$343,206.4211410/21/290.0\$104,320.640.00.00.00.00.0\$343,206.4211510/21/300.0\$104,320.640.00.00.00.00.0\$343,206.4211610/21/310.0\$104,320.640.00.00.00.00.0\$343,206.4211710/21/320.0\$104,320.640.00.00.00.00.0\$343,206.4211810/21/330.0\$104,320.640.00.00.00.00.0\$343,206.4211910/21/340.0\$104,320.640.00.00.00.00.0\$343,206.4212010/21/350.0\$104,320.640.00.00.00.00.0\$343,206.4212110/21/360.0\$104,320.640.00.00.00.00.0\$343,206.4212210/21/370.0\$104,320.640.00.00.00.00.0\$343,206.4212310/21/380.0\$104,320.640.00.00.00.00.0\$343,206.4212410/21/390.0\$104,320.640.00.00.00.00.0\$343,206.4212510/21/400.0\$104,320.640.00.00.00.00.0\$343,206.4212610/21/410.0\$104,320.640.00.00.00.00.0\$343,206.4212710/21/420.0\$104,320.640.00.00.00.00.0\$343,206.4212810/21/430.0\$104,320.640.00.00.00.00.0\$343,206.4212910/21/440.0\$104,320.640.00.00.00.00.0\$343,206.4213010/21/450.0\$104,320.640.00.00.00.00.0\$343,206.4213110/21/460.0\$104,320.640.00.00.00.00.0\$343,206.4213210/21/470.0\$104,320.640.00.00.00.00.0\$343,206.4213310/21/480.0\$104,320.640.00.00.00.00.0\$343,206.4213410/21/490.0\$104,320.640.00.00.00.00.0\$343,206.4213510/21/500.0\$104,320.640.00.00.00.00.0\$343,206.4213610/21/510.0\$104,320.640.00.00.00.00.0\$343,206.4213710/21/520.0\$104,320.640.00.00.00.00.0\$343,206.4213810/21/530.0\$104,320.640.00.00.00.00.0\$343,206.4213910/21/540.0\$104,320.640.00.00.00.00.0\$343,206.4214010/21/550.0\$104,320.640.00.00.00.00.0\$343,206.4214110/21/560.0\$104,320.640.00.00.00.00.0\$343,206.4214210/21/570.0\$104,320.640.00.00.00.00.0\$343,206.4214310/21/580.0\$104,320.640.00.00.00.00.0\$343,206.4214410/21/590.0\$104,320.640.00.00.00.00.0\$343,206.4214510/21/600.0\$104,320.640.00.00.00.00.0\$343,206.4214610/21/610.0\$104,320.640.00.00.00.00.0\$343,206.4214710/21/620.0\$104,320.640.00.00.00.00.0\$343,206.4214810/21/630.0\$104,320.640.00.00.00.00.0\$343,206.4214910/21/640.0\$104,320.640.00.00.00.00.0\$343,206.4215010/21/650.0\$104,320.640.00.00.00.00.0\$343,206.4215110/21/660.0\$104,320.640.00.00.00.00.0\$343,206.4215210/21/670.0\$104,320.640.00.00.00.00.0\$343,206.4215310/21/680.0\$104,320.640.00.00.00.00.0\$343,206.4215410/21/690.0\$104,320.640.00.00.00.00.0\$343,206.4215510/21/700.0\$104,320.640.00.00.00.00.0\$343,206.4215610/21/710.0\$104,320.640.00.00.00.00.0\$343,206.4215710/21/720.0\$104,320.640.00.00.00.00.0\$343,206.4215810/21/730.0\$104,320.640.00.00.00.00.0\$343,206.4215910/21/740.0\$104,320.640.00.00.00.00.0\$343,206.4216010/21/750.0\$104,320.640.00.00.00.00.0\$343,206.4216110/21/760.0\$104,320.640.00.00.00.00.0\$343,206.4216210/21/770.0\$104,320.640.00.00.00.00.0\$343,206.4216310/21/780.0\$104,320.640.00.00.00.00.0\$343,206.4216410/21/790.0\$104,320.640.00.00.00.00.0\$343,206.4216510/21/800.0\$104,320.640.00.00.00.00.0\$343,206.4216610/21/810.0\$104,320.640.00.00.00.00.0\$343,206.4216710/21/820.0\$104,320.640.00.00.00.00.0\$343,206.4216810/21/830.0\$104,320.640.00.00.00.00.0\$343,206.4216910/21/840.0\$104,320.640.00.00.00.00.0\$343,206.4217010/21/850.0\$104,320.640.00.00.00.00.0\$343,206.4217110/21/860.0\$104,320.640.00.00.00.00.0\$343,206.4217210/21/870.0\$104,320.640.00.00.00.00.0\$343,206.4217310/21/880.0\$104,320.640.00.00.00.00.0\$343,206.4217410/21/890.0\$104,320.640.00.00.00.00.0\$343,206.4217510/21/900.0\$104,320.640.00.00.00.00.0\$343,206.4217610/21/910.0\$104,320.640.00.00.00.00.0\$343,206.4217710/21/920.0\$104,320.640.00.00.00.00.0\$343,206.4217810/21/930.0\$104,320.640.00.00.00.00.0\$343,206.4217910/21/940.0\$104,320.640.00.00.00.00.0\$343,206.4218010/21/950.0\$104,320.640.00.00.00.00.0\$343,206.4218110/21/960.0\$104,320.640.00.00.00.00.0\$343,206.4218210/21/970.0\$104,320.640.00.00.00.00.0\$343,206.4218310/21/980.0\$104,320.640.00.00.00.00.0\$343,206.4218410/21/990.0\$104,320.640.00.00.00.00.0\$343,206.4218510/21/000.0\$104,320.640.00.00.00.00.0\$343,206.4218610/21/010.0\$104,320.640.00.00.00.00.0\$343,206.4218710/21/020.0\$104,320.640.00.00.00.00.0\$343,206.4218810/21/030.0\$104,320.640.00.00.00.00.0\$343,206.4218910/21/040.0\$104,320.640.00.00.00.00.0\$343,206.4219010/21/050.0\$104,320.640.00.00.00.00.0\$343,206.4219110/21/060.0\$104,320.640.00.00.00.00.0\$343,206.4219210/21/070.0\$104,320.640.00.00.00.00.0\$343,206.4219310/21/080.0\$104,320.640.00.00.00.00.0\$343,206.4219410/21/090.0\$104,320.640.00.00.00.00.0\$343,206.4219510/21/100.0\$104,320.640.00.00.00.00.0\$343,206.4219610/21/110.0\$104,320.640.00.00.00.00.0\$343,206.4219710/21/120.0\$104,320.640.00.00.00.00.0\$343,206.4219810/21/130.0\$104,320.640.00.00.00.00.0\$343,206.4219910/21/140.0\$104,320.640.00.00.00.00.0\$343,206.4220010/21/150.0\$104,320.640.00.00.00.00.0\$343,206.4220110/21/160.0\$104,320.640.00.00.00.00.0\$343,206.4220210/21/170.0\$104,320.640.00.00.00.00.0\$343,206.4220310/21/180.0\$104,320.640.00.00.00.00.0\$343,206.4220410/21/190.0\$104,320.640.00.00.00.00.0\$343,206.4220510/21/200.0\$104,320.640.00.00.00.00.0\$343,206.4220610/21/210.0\$104,320.640.00.00.00.00.0\$343,206.4220710/21/220.0\$104,320.640.00.00.00.00.0\$343,206.4220810/21/230.0\$104,320.640.00.00.00.00.0\$343,206.4220910/21/240.0\$104,320.640.00.00.00.00.0\$343,206.4221010/21/250.0\$104,320.640.00.00.00.00.0\$343,206.4221110/21/260.0\$104,320.640.00.00.00.00.0\$343,206.4221210/21/270.0\$104,320.640.00.00.00.00.0\$343,206.4221310/21/280.0\$104,320.640.00.00.00.00.0\$343,206.4221410/21/290.0\$104,320.640.00.00.00.00.0\$343,206.4221510/21/300.0\$104,320.640.00.00.00.00.0\$343,206.4221610/21/310.0\$104,320.640.00.00.00.00.0\$343,206.4221710/21/320.0\$104,320.640.00.00.00.00.0\$343,206.4221810/21/330.0\$104,320.640.00.00.00.00.0\$343,206.4221910/21/340.0\$104,320.640.00.00.00.00.0\$343,206.4222010/21/350.0\$104,320.640.00.00.00.00.0\$343,206.4222110/21/360.0\$104,320.640.00.00.00.00.0\$343,206.4222210/21/370.0\$104,320.640.00.00.00.00.0\$343,206.4222310/21/380.0\$104,320.640.00.00.00.00.0\$343,206.4222410/21/390.0\$104,320.640.00.00.00.00.0\$343,206.4222510/21/400.0\$104,320.640.00.00.00.00.0\$343,206.4222610/21/410.0\$104,320.640.00.00.00.00.0\$343,206.4222710/21/420.0\$104,320.640.00.00.00.00.0\$343,206.4222810/21/430.0\$104,320.640.00.00.00.00.0\$343,206.4222910/21/440.0\$104,320.640.00.00.00.00.0\$343,206.4223010/21/450.0\$104,320.640.00.00.00.00.0\$343,206.4223110/21/460.0\$104,320.640.00.00.00.00.0\$343,206.4223210/21/470.0\$104,320.640.00.00.00.00.0\$343,206.4223310/21/480.0\$104,320.640.00.00.00.00.0\$343,206.4223410/21/490.0\$104,320.640.00.00.00.00.0\$343,206.4223510/21/500.0\$104,320.640.00.00.00.00.0\$343,206.4223610/21/510.0\$104,320.640.00.00.00.00.0\$343,206.4223710/21/520.0\$104,320.640.00.00.00.00.0\$343,206.4223810/21/530.0\$104,320.640.00.00.00.00.0\$343,206.4223910/21/540.0\$104,320.640.00.00.00.00.0\$343,206.4224010/21/550.0\$104,320.640.00.00.00.00.0\$343,206.4224110/21/560.0\$104,320.640.00.00.00.00.0\$343,206.4224210/21/570.0\$104,320.640.00.00.00.00.0\$343,206.4224310/21/580.0\$104,320.640.00.00.00.00.0\$343,206.4224410/21/590.0\$104,320.640.00.00.00.00.0\$343,206.4224510/21/600.0\$104,320.640.00.00.00.00.0\$343,206.4224610/21/610.0\$104,320.640.00.00.00.00.0\$343,206.4224710/21/620.0\$104,320.640.00.00.00.00.0\$343,206.4224810/21/630.0\$104,320.640.00.00.00.00.0\$343,206.4224910/21/640.0\$104,320.640.00.00.00.00.0\$343,206.4225010/21/650.0\$104,320.640.00.00.00.00.0\$343,206.4225110/21/660.0\$104,320.640.00.00.00.00.0\$343,206.4225210/21/670.0\$104,320.640.00.00.00.00.0\$343,206.4225310/21/680.0\$104,320.640.00.00.00.00.0\$343,206.4225410/21/690.0\$104,320.640.00.00.00.00.0\$343,206.4225510/21/700.0\$104,320.640.00.00.00.00.0\$343,206.4225610/21/710.0\$104,320.640.00.00.00.00.0\$343,206.4225710/21/720.0\$104,320.640.00.00.00.00.0\$343,206.4225810/21/730.0\$104,320.640.00.00.00.00.0\$343,206.4225910/21/740.0\$104,320.640.00.00.00.00.0\$343,206.4226010/21/750.0\$104,320.640.00.00.00.00.0\$343,206.4226110/21/760.0\$104,320.640.00.00.00.00.0\$343,206.4226210/21/770.0\$104,320.640.00.00.00.00.0\$343,206.4226310/21/780.0\$104,320.640.00.00.00.00.0\$343,206.4226410/21/790.0\$104,320.640.00.00.00.00.0\$343,206.4226510/21/800.0\$104,320.640.00.00.00.00.0\$343,206.4226610/21/810.0\$104,320.640.00.00.00.00.0\$343,206.4226710/21/820.0\$104,320.640.00.00.00.00.0\$343,206.4226810/21/830.0\$104,320.640.00.00.00.00.0\$343,206.4226910/21/840.0\$104,320.640.00.00.00.00.0\$343,206.4227010/21/850.0\$104,320.640.00.00.00.00.0\$343,206.4227110/21/860.0\$104,320.640.00.00.00.00.0\$343,206.4227210/21/870.0\$104,320.640.00.00.00.00.0\$343,206.4227310/21/880.0\$104,320.640.00.00.00.00.0\$343,206.4227410/21/890.0\$104,320.640.00.00.00.00.0\$343,206.4227510/21/900.0\$104,320.640.00.00.00.00.0\$343,206.4227610/21/910.0\$104,320.640.00.00.00.00.0\$343,206.4227710/21/920.0\$104,320.640.00.00.00.00.0\$343,206.4227810/21/930.0\$104,320.640.00.00.00.00.0\$343,206.4227910/21/940.0\$104,320.640.00.00.00.00.0\$343,206.4228010/21/950.0\$104,320.640.00.00.00.00.0\$343,206.4228110/21/960.0\$104,320.640.00.00.00.00.0\$343,206.4228210/21/970.0\$104,320.640.00.00.00.00.0\$343,206.4228310/21/980.0\$104,320.640.00.00.00.00.0\$343,206.4228410/21/990.0\$104,320.640.00.00.00.00.0\$343,206.4228510/21/000.0\$104,320.640.00.00.00.00.0\$343,206.4228610/21/010.0\$104,320.640.00.00.00.00.0\$343,206.4228710/21/020.0\$104,320.640.00.00.00.00.0\$343,206.4228810/21/030.0\$104,320.640.00.00.00.00.0\$343,206.4228910/21/040.0\$104,320.640.00.00.00.00.0\$343,206.4229010/21/050.0\$104,320.640.00.00.00.00.0\$343,206.4229110/21/060.0\$104,320.640.00.00.00.00.0\$343,206.4229210/21/070.0\$104,320.640.00.00.00.00.0\$343,206.4229310/21/080.0\$104,320.640.00.00.00.00.0\$343,206.4229410/21/090.0\$104,320.640.00.00.00.00.0\$343,206.4229510/21/100.0\$104,320.640.00.00.00.00.0\$343,206.4229610/21/110.0\$104,320.640.00.00.00.00.0\$343,206.4229710/21/120.0\$104,320.640.00.00.00.00.0\$343,206.4229810/21/130.0\$104,320.640.00.00.00.00.0\$343,206.4229910/21/140.0\$104,320.640.00.00.00.00.0\$343,206.4230010/21/150.0\$104,320.640.00.00.00.00.0\$343,206.4230110/21/160.0\$104,320.640.00.00.00.00.0\$343,206.4230210/21/170.0\$104,320.640.00.00.00.00.0\$343,206.4230310/21/180.0\$104,320.640.00.00.00.00.0\$343,206.4230410/21/190.0\$104,320.640.00.00.00.00.0\$343,206.4230510/21/200.0\$104,320.640.00.00.00.00.0\$343,206.4230610/21/210.0\$104,320.640.00.00.00.00.0\$343,206.4230710/21/220.0\$104,320.640.00.00.00.00.0\$343,206.4230810/21/230.0\$104,320.640.00.00.00.00.0\$343,206.4230910/21/240.0\$104,320.640.00.00.00.00.0\$343,206.4231010/21/250.0\$104,320.640.00.00.00.00.0\$343,206.4231110/21/260.0\$104,320.640.00.00.00.00.0\$343,206.4231210/21/270.0\$104,320.640.00.00.00.00.0\$343,206.4231310/21/280.0\$104,320.640.00.00.00.00.0\$343,206.4231410/21/290.0\$104,320.640.00.00.00.00.0\$343,206.4231510/21/300.0\$104,320.640.00.00.00.00.0\$343,206.4231610/21/310.0\$104,320.640.00.00.00.00.0\$343,206.4231710/21/320.0\$104,320.640.00.00.00.00.0\$343,206.4231810/21/330.0\$104,320.640.00.00.00.00.0\$343,206.4231910/21/340.0\$104,320.640.00.00.00.00.0\$343,206.4232010/21/350.0\$104,320.640.00.00.00.00.0\$343,206.4232110/21/360.0\$104,320.640.00.00.00.00.0\$343,206.4232210/21/370.0\$104,320.640.00.00.00.00.0\$343,206.4232310/21/380.0\$104,320.640.00.00.00.00.0\$343,206.4232410/21/390.0\$104,320.640.00.00.00.00.0\$343,206.4232510/21/400.0\$104,320.640.00.00.00.00.0\$343,206.4232610/21/410.0\$104,320.640.00.00.00.00.0\$343,206.4232710/21/420.0\$104,320.640.00.00.00.00.0\$343,206.4232810/21/430.0\$104,320.640.00.00.00.00.0\$343,206.4232910/21/440.0\$104,320.640.00.00.00.00.0\$343,206.4233010/21/450.0\$104,320.640.00.00.00.00.0\$343,206.4233110/21/460.0\$104,320.640.00.00.00.00.0\$343,206.4233210/21/470.0\$104,320.640.00.00.00.00.0\$343,206.4233310/21/480.0\$104,320.640.00.00.00.00.0\$343,206.4233410/21/490.0\$104,320.640.00.00.00.00.0\$343,206.4233510/21/500.0\$104,320.640.00.00.00.00.0\$343,206.4233610/21/510.0\$104,320.640.00.00.00.00.0\$343,206.4233710/21/520.0\$104,320.640.00.00.00.00.0\$343,206.4233810/21/530.0\$104,320.640.00.00.00.00.0\$343,206.4233910/21/540.0\$104,320.640.00.00.00.00.0\$343,206.4234010/21/550.0\$104,320.640.00.00.00.00.0\$343,206.4234110/21/560.0\$104,320.640.00.00.00.00.0\$343,206.4234210/21/570.0\$104,320.640.00.00.00.00.0\$343,206.4234310/21/580.0\$104,320.640.00.00.00.00.0\$343,206.4234410/21/590.0\$104,320.640.00.00.00.00.0\$343,206.4234510/21/600.0\$104,320.640.00.00.00.00.0\$343,206.4234610/21/610.0\$104,320.640.00.00.00.00.0\$343,206.4234710/21/620.0\$104,320.640.00.00.00.00.0\$343,206.4234810/21/630.0\$104,320.640.00.00.00.00.0\$343,206.4234910/21/640.0\$104,320.640.00.00.00.00.0\$343,206.4235010/21/650.0\$104,320.640.00.00.00.00.0\$343,206.4235110/21/660.0\$104,320.640.00.00.00.00.0\$343,206.4235210/21/670.0\$104,320.640.00.00.00.00.0\$343,206.4235310/21/680.0\$104,320.640.00.00.00.00.0\$343,206.4235410/21/690.0\$104,320.640.00.00.00.00.0\$343,206.4235510/21/700.0\$104,320.640.00.00.00.00.0\$343,206.4235610/21/710.0\$104,320.640.00.00.00.00.0\$343,206.4235710/21/720.0\$104,320.640.00.00.00.00.0\$343,206.4235810/21/730.0\$104,320.640.00.00.00.00.0\$343,206.4235910/21/740.0\$104,320.640.00.00.00.00.0\$343,206.4236010/21/750.0\$104,320.640.00.00.00.00.0\$343,206.4236110/21/760.0\$104,320.640.00.00.00.00.0\$343,206.4236210/21/770.0\$104,320.640.00.00.00.00.0\$343,206.4236310/21/780.0\$104,320.640.00.00.00.00.0\$343,206.4236410/21/790.0\$104,320.640.00.00.00.00.0\$343,206.4236510/21/800.0\$104,320.640.00.00.00.00.0\$343,206.4236610/21/810.0\$104,320.640.00.00.00.00.0\$343,206.4236710/21/820.0\$104,320.640.00.00.00.00.0\$343,206.4236810/21/830.0\$104,320.640.00.00.00.00.0\$343,206.4236910/21/840.0\$104,320.640.00.00.00.00.0\$343,206.4237010/21/850.0\$104,320.640.00.00.00.00.0\$343,206.4237110/21/860.0\$104,320.640.00.00.00.00.0\$343,206.4237210/21/870.0\$104,320.640.00.00.00.00.0\$343,206.4237310/21/880.0\$104,320.640.00.00.00.00.0\$343,206.4237410/21/890.0\$104,320.640.00.00.00.00.0\$343,206.4237510/21/900.0\$104,320.640.00.00.00.00.0\$343,206.4237610/21/910.0\$104,320.640.00.00.00.00.0\$343,206.4237710/21/920.0\$104,320.640.00.00.00.00.0\$343,206.4237810/21/930.0\$104,320.640.00.00.00.00.0\$343,206.4237910/21/940.0\$104,320.640.00.00.00.00.0\$343,206.4238010/21/950.0\$104,320.640.00.00.00.00.0\$343,206.4238110/21/960.0\$104,320.640.00.00.00.00.0\$343,206.4238210/21/970.0\$104,320.640.00.00.00.00.0\$343,206.4238310/21/980.0\$104,320.640.00.00.00.00.0\$343,206.4238410/21/990.0\$104,320.640.00.00.00.00.0\$343,206.4238510/21/000.0\$104,320.640.00.00.00.00.0\$343,206.4238610/21/010.0\$104,320.640.00.00.00.00.0\$343,206.4238710/21/020.0\$104,320.640.00.00.00.00.0\$343,206.4238810/21/030.0\$104,320.640.00.00.00.00.0\$343,206.4238910/21/040.0\$104,320.640.00.00.00.00.0\$343,206.4239010/21/050.0\$104,320.640.00.00.00.00.0\$343,206.4239110/21/060.0\$104,320.640.00.00.00.00.0\$343,206.4239210/21/070.0\$104,320.640.00.00.00.00.0\$343,206.4239310/21/080.0\$104,320.640.00.00.00.00.0\$343,206.4239410/21/090.0\$104,320.640.00.00.00.00.0\$343,206.4239510/21/100.0\$104,320.640.00.00.00.00.0\$343,206.4239610/21/110.0\$104,320.640.00.00.00.00.0\$343,206.4239710/21/120.0\$104,320.640.00.00.00.00.0\$343,206.4239810/21/130.0\$104,320.640.00.00.00.00.0\$343,206.4239910/21/140.0\$104,320.640.00.00.00.00.0\$343,206.4240010/21/150.0\$104,320.640.00.00.00.00.0\$343,206.4240110/21/160.0\$104,320.640.00.00.00.00.0\$343,206.4240210/21/170.0\$104,320.640.00.00.00.00.0\$343,206.4240310/21/180.0\$104,320.640.00.00.00.00.0\$343,206.4240410/21/190.0\$104,320.640.00.00.00.00.0\$343,206.4240510/21/200.0\$104,320.640.00.00.00.00.0\$343,206.4240610/21/210.0\$104,320.640.00.00.00.00.0\$343,206.4240710/21/220.0\$104,320.640.00.00.00.00.0\$343,206.4240810/21/230.0\$104,320.640.00.00.00.00.0\$343,206.4240910/21/240.0\$104,320.640.00.00.00.00.0\$343,206.4241010/21/250.0\$104,320.640.00.00.00.00.0\$343,206.4241110/21/260.0\$104,320.640.00.00.00.00.0\$343,206.4241210/21/270.0\$104,320.640.00.00.00.00.0\$343,206.4241310/21/280.0\$104,320.640.00.00.00.00.0\$343,206.4241410/21/290.0\$104,320.640.00.00.00.00.0\$343,206.4241510/21/300.0\$104,320.640.00.00.00.00.0\$343,206.4241610/21/310.0\$104,320.640.00.00.00.00.0\$343,206.4241710/21/320.0\$104,320.640.00.00.00.00.0\$343,206.4241810/21/330.0\$104,320.640.00.00.00.00.0\$343,206.4241910/21/340.0\$104,320.640.00.00.00.00.0\$343,206.4242010/21/350.0\$104,320.640.00.00.00.00.0\$343,206.4242110/21/360.0\$104,320.640.00.00.00.00.0\$343,206.4242210/21/370.0\$104,320.640.00.00.00.00.0\$343,206.4242310/21/380.0\$104,320.640.00.00.00.00.0\$343,206.4242410/21/390.0\$104,320.640.00.00.00.00.0\$343,206.4242510/21/400.0\$104,320.640.00.00.00.00.0\$343,206.4242610/21/410.0\$104,320.640.00.00.00.00.0\$343,206.4242710/21/420.0\$104,320.640.00.00.00.00.0\$343,206.4242810/21/430.0\$104,320.640.00.00.00.00.0\$343,206.4242910/21/440.0\$104,320.640.00.00.00.00.0\$343,206.4243010/21/450.0\$104,320.640.00.00.00.00.0\$343,206.4243110/21/460.0\$104,320.640.00.00.00.00.0\$343,206.4243210/21/470.0\$104,320.640.00.00.00.00.0\$343,206.4243310/21/480.0\$104,320.640.00.00.00.00.0\$343,206.4243410/21/490.0\$104,320.640.00.00.00.00.0\$343,206.4243510/21/500.0\$104,320.640.00.00.00.00.0\$343,206.4243610/21/510.0\$104,320.640.00.00.00.00.0\$343,206.4243710/21/520.0\$104,320.640.00.00.00.00.0\$343,206.4243810/21/530.0\$104,320.640.00.00.00.00.0\$343,206.4243910/21/540.0\$104,320.640.00.00.00.00.0\$343,206.4244010/21/550.0\$104,320.640.00.00.00.00.0\$343,206.4244110/21/560.0\$104,320.640.00.00.00.00.0\$343,206.4244210/21/570.0\$104,320.640.00.00.00.00.0\$343,206.4244310/21/580.0\$104,320.640.00.00.00.00.0\$343,206.4244410/21/590.0\$104,320.640.00.00.00.00.0\$343,206.4244510/21/600.0\$104,320.640.00.00.00.00.0\$343,206.4244610/21/610.0\$104,320.640.00.00.00.00.0\$343,206.4244710/21/620.0\$104,320.640.00.00.00.00.0\$343,206.4244810/21/630.0\$104,320.640.00.00.00.00.0\$343,206.4244910/21/640.0\$104,320.640.00.00.00.00.0\$343,206.4245010/21/650.0\$104,320.640.00.00.00.00.0\$343,206.4245110/21/660.0\$104,320.640.00.00.00.00.0\$343,206.4245210/21/670.0\$104,320.640.00.00.00.00.0\$343,206.4245310/21/680.0\$104,320.640.00.00.00.00.0\$343,206.4245410/21/690.0\$104,320.640.00.00.00.00.0\$343,206.4245510/21/700.0\$104,320.640.00.00.00.00.0\$343,206.4245610/21/710.0\$104,320.640.00.00.00.00.0\$343,206.4245710/21/720.0\$104,320.640.00.00.00.00.0\$343,206.4245810/21/730.0\$104,320.640.00.00.00.00.0\$343,206.4245910/21/740.0\$104,320.640.00.00.00.00.0\$343,206.4246010/21/750.0\$104,320.640.00.00.00.00.0\$343,206.4246110/21/760.0\$104,320.640.00.00.00.00.0\$343,206.4246210/21/770.0\$104,320.640.00.00.00.00.0\$343,206.4246310/21/780.0\$104,320.640.00.00.00.00.0\$343,206.4246410/21/790.0\$104,320.640.00.00.00.00.0\$343,206.4246510/21/800.0\$104,320.640.00.00.00.00.0\$343,206.4246610/21/810.0\$104,320.640.00.00.00.00.0\$343,206.4246710/21/820.0\$104,320.640.00.00.00.00.0\$343,206.4246810/21/830.0\$104,320.640.00.00.00.00.0\$343,206.4246910/21/840.0\$104,320.640.00.00.00.00.0\$343,206.4247010/21/850.0\$104,320.640.00.00.00.00.0\$343,206.4247110/21/860.0\$104,320.640.00.00.00.00.0\$343,206.4247210/21/870.0\$104,320.640.00.00.00.00.0\$343,206.4247310/21/880.0\$104,320.640.00.00.00.00.0\$343,206.4247410/21/890.0\$104,320.640.00.00.00.00.0\$343,206.4247510/21/900.0\$104,320.640.00.00.00.00.0\$343,206.4247610/21/910.0\$104,320.640.00.00.00.00.0\$343,206.4247710/21/920.0\$104,320.640.00.00.00.00.0\$343,206.4247810/21/930.0\$104,320.640.00.00.00.00.0\$343,206.4247910/21/940.0\$104,320.640.00.00.00.00.0\$343,206.4248010/21/950.0\$104,320.640.00.00.00.00.0\$343,206.42

Documents
Education
Documents
Documents
Education
Documents
Documents
Documents
Documents
Documents
##### Infrastructure Project Equity Financing
Economy & Finance
Documents
Documents
Documents
Documents
Documents
Documents
Documents
Documents
Documents
Documents
Documents
Documents
Documents
Education
Documents
Documents
Documents
Documents
Documents