Before Tax Cash Flow Projection

Investment and Sale

Effective Income

$824,380

$1,926,060

$201,160

$2,951,600

Operating Expense

($2,125,919)

($44,391)

($2,170,310)

Cash Flow Before Debt

($1,301,539)

$1,881,669

$201,160

$781,290

Debt Service

$515,021

($566,894)

($51,873)

Cash Flow Before Tax

($786,518)

$1,314,775

$201,160

$729,417

Source and Use of Proceeds

Working Capital

$74,567

$186,380

$20,000

Interest Income

Members' Investment

$1,100,000

Cash Flow Before Tax

($786,518)

$1,314,775

$201,160

$729,417

Distributed To Members

($238,915)

($1,082,440)

($197,520)

($20,000)

($1,538,875)

Distributed To Manager

($120,522)

($170,020)

($290,542)

Group Taxable Income Projection

Taxable Revenue

$824,380

$1,926,060

$201,160

$2,951,600

Interest Income

Taxable Expense

($606,166)

($1,416,231)

($147,913)

($2,170,310)

Interest Expense

($40,561)

($11,312)

($51,873)

Depreciation

Ordinary Income

$177,653

$498,517

$53,247

$729,417

Group Member Projection (per Unit)

Distributed Cash

($100,000)

$21,720

$98,404

$17,956

$1,818

$39,898

Ordinary Income

$16,150

$34,363

($10,616)

$39,898

Capital Gains

Taxable Income

$16,150

$34,363

($10,616)

$39,898

Taxes

($6,396)

($13,608)

$4,204

($15,800)

Cash Flow After Tax

($100,000)

$15,324

$84,796

$22,160

$1,818

$24,098

Managing Member Cash Flow Projection

Manager Fees

Distributed Cash

$120,522

$170,020

$290,542

Total Cash Flow

$120,522

$170,020

$290,542

Taxable Income

$120,522

$170,020

$290,542

Taxes

Cash Flow After Tax

$120,522

$170,020

$290,542


Rate of Return Before Debt (IRR)	38.9%
Rate of Return Before Tax (IRR)	48.8%
Member's Rate of Return Before Tax (IRR)	25.7%
Member's Rate of Return After Tax (IRR)	14.9%
Managing Member's Present Value Before Tax @10%	240,716
Managing Member's Present Value After Tax @10%	240,716