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Turnkey Syndication (+2.5%/yr):Trial 7: Conv.Fin.: 9% LIHTC:$1.2M FAHP

Schedule C: Residual Values & IROR's

(column heading(s) indicate method for calculating residual value)

  Original cost
PROJECT  
165 Capitalized Cost (TCC) 5,486,570
190 Residual Value 5,492,330
195 Land Residual 1,098,466
670 Mtge Amortization 1,942,175
710 Depreciation 2,914,666
   
Operator  
1 195 Land Residual 1,098,466
1 916 Pre-Tax Present Value -99414
1 926 Pre-Tax Net Cash 864334
   
General Partner  
2 196 Equity Residual 24517
2 916 Pre-Tax Present Value -164996
2 926 Pre-Tax Net Cash -99723
   
Investor  
3 196 Equity Residual 2,427,172
3 880 Inc.Taxes:Equity Residual -564154
3 916 Pre-Tax Present Value -838208
3 917 After-Tax Present Value 976301
3 926 Pre-Tax Net Cash 990472
3 927 After-Tax Net Cash 4,063,769
   
Other  
4 916 Pre-Tax Present Value -22135
4 926 Pre-Tax Net Cash 548489
   
Secondary Lender  
6 670 Mtge Amortization 589322
6 916 Pre-Tax Present Value -560039
6 926 Pre-Tax Net Cash 413618
   
Underwriter/Syndctr  
7 916 Pre-Tax Present Value 193201
7 926 Pre-Tax Net Cash 312018
   
General Partner  
8 670 Mtge Amortization 1,352,853
8 916 Pre-Tax Present Value -180906
8 926 Pre-Tax Net Cash 2,623,344
   
Operator  
9 916 Pre-Tax Present Value -0.0062
9 926 Pre-Tax Net Cash -0.011
   
All Participants  
99 916 Pre-Tax Present Value -1672498
99 926 Pre-Tax Net Cash 5,652,553
   
Operator  
1 936 IROR Pre-Tax 9.01
1 938 FMRR Pre-Tax 9.82
   
General Partner  
2 936 IROR Pre-Tax  
2 938 FMRR Pre-Tax 3.95
   
Investor  
3 936 IROR Pre-Tax 3.37
3 937 IROR After-Tax 56.09
3 937.1 IROR After-Tax(w/o pass.loss) 33.7
3 938 FMRR Pre-Tax 5.21
3 939 FMRR After-Tax 23.71
3 939.1 FMRR After-Tax(w/o pass.loss) 20.33
   
Other  
4 936 IROR Pre-Tax 11.35
4 938 FMRR Pre-Tax 12.74
   
Secondary Lender  
6 936 IROR Pre-Tax 2.94
6 938 FMRR Pre-Tax 7.42
   
Underwriter/Syndctr  
7 936 IROR Pre-Tax  
7 938 FMRR Pre-Tax  
   
General Partner  
8 936 IROR Pre-Tax 10.31
8 938 FMRR Pre-Tax 11.99
   
Operator  
9 936 IROR Pre-Tax  
9 938 FMRR Pre-Tax  
   
All Participants  
99 936 IROR Pre-Tax 6.9
99 938 FMRR Pre-Tax 9.51



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