AMORTIZATION SCHEDULE

Year Beginning bal Installment Interest pa Principal p

0 148000.00 28954.84 0.00 28954.84
1 119045.16 28954.84 14285.42 14669.42
2 104375.74 28954.84 12525.09 16429.75
3 87945.99 28954.84 10553.52 18401.32
4 69544.67 28954.84 8345.36 20609.48
5 48935.19 28954.84 5872.22 23082.62
6 25852.57 28954.88 3102.31 25852.57

Present value of cash outflows for Debt Financing

0 1 2 3
Installment payment 28954.84 28954.84 28954.84 28954.84
Salvage value
Interest payment 0 14285.419 12525.089 10553.519
Annual Depreciation Expense 29600 47360 28416
Tax Shield benefits @40% 0 17554.168 23954.035 15587.807
After tax salvage value
Cash Outflows after taxes 28954.84 11400.672 5000.8045 13367.033
PV of cash outflows after taxes @ 7.2% 28954.84 10634.956 4351.6134 10850.522
Total present value of cash outflows for debt financing 87951.80808
Ending balance
119045.16
104375.74
87945.99
69544.67
48935.19
25852.57
0.00

4 5 6 7
28954.84 28954.84 28954.88
-30000
8345.35997 5872.22237 3102.30826
17049.6 17049.6 8524.8
10157.984 9168.72895 4650.8433
-18000
18796.856 19786.1111 24304.0367 -18000
14233.3154 13976.1166 16014.3642 -11063.92