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Guggenheim LIHTC Tests:Trial 7: Moderate Rehab: Tax Exempt.Fin.

Schedule T: Detail Of Present Value

by participant

( bty )( aty ) 0% 10% 12% 15% 18% 20% 25%
Developer( )( )              
Start-up Oper. Losses (exp.) ( 1 167) -3192 -2593 -2496 -2361 -2238 -2162 -1990
Equity Residual ( 1 196) 173 38 28 18 12 9 5
Investment Adj. ( 1 320) -1142 -315 -210 -77 30 89 204
Net Cash Flow (NCF) ( 1 699) 48 18 15 12 9 8 5
Subtotal: Developer( )( ) -4114 -2853 -2662 -2408 -2187 -2056 -1775
               
Lender ( 9.9%)( )              
Financing Fees ( 2 158) 1214 1103 1084 1055 1028 1011 971
Orig.Mtge(s) ( 2 240) -17337 -15761 -15479 -15076 -14692 -14447 -13870
Mtge Interest ( 2 660) 21526 10163 8973 7543 6432 5824 4643
Mtge Amortization ( 2 670) 3583 1412 1206 968 791 698 525
Mtge Amortization ( 2 670) 13754 2993 2243 1470 973 744 387
Subtotal: Lender ( 9.9%)( ) 22740 -90 -1973 -4039 -5467 -6170 -7343
               
Investor ( 5.1%)( ****)              
Equity Residual ( 3 196) 17103 3722 2790 1828 1210 925 481
Investment ( 3 310) -12550 -9041 -8509 -7789 -7153 -6768 -5928
Net Cash Flow (NCF) ( 3 699) 4780 1767 1479 1146 899 770 534
Income Taxes (Annual) ( 3 850) 1806 1384 1316 1223 1140 1089 977
Inc.Taxes:Equity Residual ( 3 880) -4419 -962 -721 -472 -313 -239 -124
Tax Credit ( 3 890) 10890 6083 5494 4753 4148 3805 3111
Subtotal: Investor ( 5.1%)( ****) 17609 2953 1849 688 -68 -419 -949
               
Other ( ****)( )              
Const.Interest ( 4 155) 4866 4207 4103 3959 3829 3749 3568
Financing Fees ( 4 158) 816 674 650 617 586 566 522
Const.Loan ( 4 220)   -3643 -4140 -4782 -5318 -5624 -6244
Subtotal: Other ( ****)( ) 5682 1239 613 -206 -903 -1309 -2154
               
Public ( )( )              
Income Taxes (Annual) ( 5 850) -1806 -1384 -1316 -1223 -1140 -1089 -977
Inc.Taxes:Equity Residual ( 5 880) 4419 962 721 472 313 239 124
Tax Credit ( 5 890) -10890 -6083 -5494 -4753 -4148 -3805 -3111
Subtotal: Public ( )( ) -8277 -6505 -6089 -5503 -4974 -4655 -3963
               
Total 33641 -5255 -8261 -11469 -13600 -14608 -16185



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