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INPUT SHEET

Please use the following assumptions in modelling your cashflows in the Worksheet.

Traffic
Cars

Government
Diverted
Generated
Total

Million vehicles
Million vehicles
Million vehicles

Growth
Diverted
Generated

Lorries

Diverted
Generated
Total

Year 4
3.000
1.000
4.000
Year 5
15%
20%

Million vehicles
Million vehicles
Million vehicles

Year 6
15%
20%

Year 7
2%
20%

Year 8
2%
20%

Year 9
2%
4%

Year 4
0.200
0.200
0.400

Test discount rate


8.00%
Concession period
50
years
CPI
3.00%
Inflation (Real)
0.970874
Financial markets

Reference MGS yiel


Swap premium

15%
20%

15%
20%

2%
20%

2%
20%

2%
4%

15%
20%

15%
20%

1%
20%

1%
20%

1%
5%

6.00%
1.00%

Tax
Growth
Diverted
Generated
Total

Year 5
15%
20%

Year 6
15%
20%

Year 7
1%
20%

Year 8
1%
20%

Toll

Band

Index

Escalate

RM/vehicle
RM/vehicle
RM/vehicle

3.00
2.00
1.00

3.000
5.000
6.000

CPI
CPI
CPI

3.00%
3.00%
3.00%

RM/vehicle

10.00

2.000

CPI + 1%

4.00%

Car equiv.
Max. Car equiv. Million vehicles

Year 9
1%
5%

WDAs
Tax rate

4%
30%

5
15.000
Loan

Tolls
Cars

Band 1
Band 2
Band 3

Lorries

Costs
Fixed maintenance

Year 4

Growth

RM mil

2.0

CPI -1.5% 1.50%

RM/lorry-mile
tonne/axle

0.10
5.000

CPI -1.5% 1.50%

Bank margin
Bank rate
Loan life
Capex funding ratio
Interest capitalised
Grace period
Repayment
Facility amount

2.00%
8.00%
20
90%
4
100.0
5
Annuity
100.0

years
years
RM mil max
years
RM mil

Bond
Variable maintenance
@ average axle weight
Axle-weights
Power law factor
Road length
Capital cost
Length of road
Factors
Construction phasing
Construction End

Max
9.000

tonne

5.000

miles

2.7
50

RM mil
miles

100.0
50.0

fixed

40%

30%

1
30%
3

2.00%

Bond spread
Bond rate
Bond life
Initial debt:equity
Grace period
Repayment
Bond amount
Escrow period
Escrow interest rate

3.00%
9.00%
30
9
5
Annuity
100.0
Grace
3.00%

years
:1
years
RM mil

Year
Construction
Operations

Yes
Base

Incl. IDC in Project Return


Case

Operations
Traffic
Cars
Diverted Traffic Growth Rate
Generated Traffic Growth Rate
Diverted Traffic Index
Generated Traffic Index

%
%
#
#

Diverted Traffic
Generated Traffic

#'Mill
#'Mill

Band 1
Band 2
Band 3
Total

#'Mill
#'Mill
#'Mill
#'Mill

Max
3
2
1

Traffic outside Band


Lorries
Diverted Traffic Growth Rate
Generated Traffic Growth Rate
Diverted Traffic Index
Generated Traffic Index
Diverted Traffic
Generated Traffic

Lorries as Car Equivalent


Max Lorries as Car Equivalent
Lorries as Car Equivalent
Total Traffic Car Equivalent
Maximum Car Equivalent Traffic
Tollable Lorries Traffic

%
%
#
#
#'Mill
#'Mill

5
15
#'Mill
#'Mill
#'Mill
#'Mill

Tolls
CPI
Escalation Index
Cars
Band 1
Band 2
Band 3

%
#

0.03

Max
$
$
$

3
2
1

CPI+1%
Escalation Index
Lorries

%
#
$

1%
10

Revenue
Cars
Band 1
Band 2
Band 3
Subtotal
Lorries
Total
Average Toll(Nominal)
Inflation Index
Average Toll(Real)

$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$
#
$

Maintenance Cost
Fixed Maintenance Cost
CPI less 1.5%
Escalation Index
Maintenance Cost

%
#
$'Mill

Variable Maintenance Cost


CPI less 1.5%
Escalation Index

%
#

1%

Cost per lorry

$/Lorry

0.1

Load Axle Weight


Road Damage Exponent

Kg/Lorry
#

5
2.7

1.50%
2

Base Road Damage Factor


#/Lorry
Actual Road Damage Factor
#/Lorry
Incremental Damage Factor (Heavier Vehicles#/Lorry
Base Maintenance Cost
Incremental Maintenance Cost
Total Variable Maintenance Cost

$'Mill
$'Mill
$'Mill

Total Maintenance Cost

$'Mill

Bank Loan Option


Construction
Construction CapEx
Construction Phasing
Costs to be Funded
CapEx
Interest During Construction

$'Mill
%

$'Mill
$'Mill

100

Total

$'Mill

Funding
Sources
Equity
Facility
IDC funded by Facility
Additional Equity
Total
Uses
CapEx
IDC
Total
Equity: Initial
Opening
Funding of Construction
Closing
Undrawn Balance
Bank Loan
Opening
Funding of Construction
IDC/capitalised Interest
Repayments
Closing
Undrawn Balance
Interest
Interest Capitalised Flag
Rate
IDC
Interest Expense
Loan Amount
Loan Tenor
Moratorium
Commencement of Repayment
Repayments Remaining
Number of Repayments
Annuity Repayment(P+I)
Principal Repayments
Additional Equity
Opening
Funding of Construction
Closing

Additional Equity

$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill

$'Mill
$'Mill
$'Mill
$'Mill

10.7

$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill

100

%
$'Mill
$'Mill

8%

Yrs
Yrs
[1,0]
#
#
$'Mill
$'Mill

$'Mill
$'Mill
$'Mill

108.3
20
5.0

15.0

Opening
Funding of Construction
Closing

$'Mill
$'Mill
$'Mill

Assets
Opening
Additions
Depreciation
Closing

$'Mill
$'Mill
$'Mill
$'Mill

WDAs

4.0%

Free Cashflow
EBITDA
CapEx
EBIT * Tax Rate
Change in WC
FCF

$'Mill
$'Mill
$'Mill
$'Mill
$'Mill

Project IRR

0.3

14.6%

Taxes
EBITDA
Capital Allowance
Interest Expense
Assessable Profit
Losses Utilized
Taxable Profit
Tax Paid
PAT

$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill

Tax rate
Tax Payable

$'Mill
$'Mill

Losses
Opening
Additions
Utilized Losses
Unutilized Losses

$'Mill
$'Mill
$'Mill
$'Mill

Cashflows
Revenue
Fixed Maintenance Costs
Variable Maintenance Costs
EBITDA
Tax Payable
Cashflow from Operations
CapEx
CFADS

$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill

Equity
Loan

$'Mill
$'Mill

0.3

Interest Payments
Principal Repayment
Total Debt Obligations

$'Mill
$'Mill
$'Mill

Net Cashflows before Dividend Lock-up


Dividend Lock-up
Release for Dividend
Net Cashflows Available for Dividend

$'Mill
$'Mill
$'Mill
$'Mill

Dividend Payment Lock-up


Dividend Lock Flag

[1,0]

Opening
Additions
Release for Dividend
Closing

$'Mill
$'Mill
$'Mill

Ratios & Returns Analysis (Bank Loan Option)


Equity Returns
Equity
Dividends
Evaluation Cashflows
Discount Rate

$'Mill
$'Mill
$'Mill
8%
NPV
153.4

DSCR
CFADS
Debt Service

$'Mill
$'Mill

DSCR
PLCR
CFADS
NPV of CFADS
Outstanding Debt

LLCR

Average
1.75x

Min
Min. Year
1.30x
6.0

Average
8.39x

Min
Min. Year
2.84x
4.0

$'Mill
$'Mill
$'Mill

PLCR
LLCR
Tenor
CFADS
NPV of CFADS
Outstanding Debt

IRR
32.5%

Yrs
$'Mill
$'Mill
$'Mill

20

Average
2.46x

Min
Min. Year
1.63x
4.0

Bond Option
Construction
Construction CapEx
Construction Phasing
Costs to be Funded
CapEx
Interest on Bond
Total

$'Mill
%

100

$'Mill
$'Mill
$'Mill

Funding
CapEx
Interest on Bond

$'Mill
$'Mill

Sources
Interest Income
Equity
Bond
Escrow
Additional Equity

$'Mill
$'Mill
$'Mill
$'Mill
$'Mill

Equity: Initial
Opening
Funding of Construction
Closing

$'Mill
$'Mill
$'Mill

Undrawn Balance
Bond
Opening
Additions
Repayments
Closing
Undrawn Balance
Interest
Rate
IDC
Interest Expense

Bond Life
Moratorium
Commencement of Repayment
Repayments Remaining
Number of Repayments
Annuity Repayment(P+I)
Principal Repayments

$'Mill

20.0

$'Mill
$'Mill
$'Mill
$'Mill
$'Mill

100

%
$'Mill
$'Mill

9%

Yrs
Yrs
[1,0]
#
#
$'Mill
$'Mill

30
5.0

25.0

Escrow Accounts
Opening
Additions
Equity
Bond
Interest Income
Construction
Release
Closing

$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill

Interest Income

$'Mill

Additional Equity
Opening
Funding of Construction
Closing

3%

$'Mill
$'Mill
$'Mill

Assets
Opening
Additions
Depreciation
Closing

$'Mill
$'Mill
$'Mill
$'Mill

WDAs

$'Mill

4.0%

$'Mill
$'Mill
$'Mill
$'Mill
$'Mill

30.0%

Free Cashflow
EBITDA
CapEx
EBIT * Tax Rate
Change in WC
FCF
Project IRR

Err:523

Taxes
EBITDA
Capital Allowance
Interest Expense
Assessable Profit
Losses Utilized
Taxable Profit
Tax Paid
PAT

$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill

Tax rate
Tax Payable

%
$'Mill

Losses
Opening
Additions
Utilized Losses
Unutilized Losses

$'Mill
$'Mill
$'Mill
$'Mill

30.0%

Cashflows
Revenue
Fixed Maintenance Costs
Variable Maintenance Costs
EBITDA
Tax Payable
Cashflow from Operations
CapEx
CFADS

$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill

Equity
Bond
Escrow
Coupon Payments
Principal Repayment
Interest Receivables
Total Debt Obligations

$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill
$'Mill

Net Cashflows before Dividend Lock-up


Dividend Lock-up
Release for Dividend
Net Cashflows Available for Dividend

$'Mill
$'Mill
$'Mill
$'Mill

Dividend Payment Lock-up


Dividend Lock Flag
Opening
Additions
Release for Dividend
Closing

[1,0]
$'Mill
$'Mill
$'Mill
$'Mill

Ratios & Returns Analysis (Bond Option)


Equity Returns
Equity
Dividends
Evaluation Cashflows

$'Mill
$'Mill
$'Mill

Discount Rate

8%
NPV
169.7

DSCR
CFADS
Debt Service
DSCR
PLCR

IRR
28.4%

$'Mill
$'Mill
x

Average
4.2x

Min
Min. Year
1.70x
6.0

CFADS
NPV of CFADS
Outstanding Debt

$'Mill
$'Mill
$'Mill

PLCR

LLCR
CFADS
NPV of CFADS
Outstanding Debt
LLCR

Average
9.2x

Min
Min. Year
2.53x
1.0

Average
3.6x

Min
Min. Year
1.98x
1.0

$'Mill
$'Mill
$'Mill
x

Year 0

Year 1
1
-

Year 2
1
-

Year 3
1
-

Year 4
1

Year 5
-

Year 6
-

Year 7
-

Year 8
-

1.0
1.0

15.0%
20.0%
1.2
1.2

15.0%
20.0%
1.3
1.4

2.0%
20.0%
1.3
1.7

2.0%
20.0%
1.4
2.1

3.0
1.0
4.0

3.5
1.2
4.7

4.0
1.4
5.4

4.0
1.7
5.8

4.1
2.1
6.2

3.0
1.0
4.0

3.0
1.7
4.7

3.0
2.0
0.4
5.4

3.0
2.0
0.8
5.8

3.0
2.0
1.0
6.0

0.2

1.0
1.0

15%
20%
1.2
1.2

15%
20%
1.3
1.4

1%
20%
1.3
1.7

1%
20%
1.3
2.1

0.2
0.2
0.4

0.2
0.2
0.5

0.3
0.3
0.6

0.3
0.3
0.6

0.3
0.4
0.7

2.0
6.0
6.0
0.4

2.4
7.0
7.0
0.47

2.8
8.2
8.2
0.6

3.1
8.8
8.8
0.6

3.4
9.6
9.6
0.7

3.0%
1.00

3.0%
1.03

3.0%
1.06

3.0%
1.09

3.0%
1.13

3.0
2.0
1.0

3.1
2.1
1.0

3.2
2.1
1.1

3.3
2.2
1.1

3.4
2.3
1.1

4.0%
1.00
10.00

4.0%
1.04
10.40

4.0%
1.08
10.82

4.0%
1.12
11.25

4.0%
1.17
11.70

9.0
2.0
11.0
4.0
15.0

9.3
3.4
12.7
4.9
17.6

9.5
4.2
0.4
14.2
6.0
20.2

9.8
4.4
0.8
15.1
6.9
21.9

10.1
4.5
1.1
15.8
8.0
23.8

3.4
1.00
3.41

3.4
1.03
3.33

3.4
1.06
3.19

3.4
1.09
3.14

3.6
1.13
3.16

1.00
2.0

1.5%
1.02
2.0

1.5%
1.03
2.1

1.5%
1.05
2.1

1.5%
1.06
2.1

2.0%
1.00

2.0%
1.02

2.0%
1.04

2.0%
1.06

2.0%
1.08

0.10

0.10

0.10

0.11

0.11

5.0
2.7

5.1
2.7

5.2
2.7

5.3
2.7

5.4
2.7

77.1
77.1
-

77.1
81.4
0.1

77.1
85.8
0.1

77.1
90.5
0.2

77.1
95.5
0.2

0.04
0.04

0.05
0.0
0.05

0.06
0.0
0.07

0.07
0.0
0.08

0.07
0.0
0.10

2.0

2.1

2.1

2.2

2.2

30.0%

40.0%

30.0%

30.0
0.8

40.0
3.3

30.0
6.5

30.8

43.3

36.5

(10.7)
(19.3)
(0.8)
(30.8)

(40.0)
(3.3)
(43.3)

(30.0)
(6.5)
(36.5)

30.0
0.8
30.8

40.0
3.3
43.3

30.0
6.5
36.5

10.7
10.7

10.7
10.7

10.7
10.7

10.7

19.3
0.8
20.1

20.1
40.0
3.3
63.5

63.5
30.0
6.5
100.0

100.0

79.9

36.5

1
8.0%
0.8
-

1
8.0%
3.3
-

1
8.0%
6.5
-

10.7
10.7
-

100.0
8.3
108.3
-

1
8.0%
8.3
-

10.7
10.7
-

108.3
108.3
-

8.0%
8.7

10.7
10.7
-

10.7
10.7
-

108.3
(4.0)
104.3
-

10.7
10.7
-

104.3
(4.3)
100.0
-

100.0
(4.7)
95.4
-

8.0%
8.7

8.0%
8.3

8.0%
8.0

1
1

1
2

1
3

12.7
4.0

12.7
4.3

12.7
4.7

30.8
30.8
-

30.8
43.3
74.1
-

74.1
36.5
110.7
-

110.7
(4.4)
106.3

106.3
(4.3)
102.0

102.0
(4.1)
97.9

97.9
(3.9)
94.0

94.0
(3.8)
90.3

4.4

4.3

4.1

3.9

3.8

(30.8)
-

(43.3)
-

(36.5)
-

13.0
(2.6)

15.5
(3.4)

18.1
(4.2)

19.8
(4.8)

21.5
(5.3)

(30.8)

(43.3)

(36.5)

10.4

12.1

13.9

15.0

16.2

13.0
(4.4)
8.5
8.5
(2.6)
6.0

15.5
(4.3)
(8.7)
2.6
2.6
(0.8)
1.8

18.1
(4.1)
(8.7)
5.3
5.3
(1.6)
3.7

19.8
(3.9)
(8.3)
7.5
7.5
(2.3)
5.3

21.5
(3.8)
(8.0)
9.8
9.8
(2.9)
6.8

2.6

0.8

1.6

2.3

2.9

(30.8)
(30.8)

(43.3)
(43.3)

(36.5)
(36.5)

10.7
20.1

43.3

36.5

15.0
(2.00)
(0.04)
13.0
(2.6)
10.4
10.4
-

17.6
(2.03)
(0.05)
15.5
(0.8)
14.7
14.7
-

20.2
(2.06)
(0.07)
18.1
(1.6)
16.5
16.5
-

21.9
(2.09)
(0.08)
19.8
(2.3)
17.5
17.5
-

23.8
(2.12)
(0.10)
21.5
(2.9)
18.6
18.6
-

30.8

43.3

36.5

10.4
(10.4)
-

(10.7)
(10.7)

(8.7)
(8.7)

(8.7)
(4.0)
(12.7)

(8.3)
(4.3)
(12.7)

(8.0)
(4.7)
(12.7)

6.0
(6.0)
-

3.8
16.4
20.3

4.9
4.9

6.0
6.0

16.4
(16.4)
-

20.3
20.3

4.9
4.9

6.0
6.0

14.7
8.7

16.5
12.7

17.5
12.7

18.6
12.7

1.70x

1.30x

1.38x

1.47x

10.4
10.4

10.4
6.0
16.4

10.4
-

244.4
20.1

263.9
63.5

285.0
100.0

10.4
307.8
108.3

14.7
322.0
108.3

16.5
333.1
104.3

17.5
343.3
100.0

18.6
353.2
95.4

12.1x

4.2x

2.9x

2.8x

3.0x

3.2x

3.4x

3.7x

140.2
20.1

151.4
63.5

163.6
100.0

10.4
176.6
108.3

14.7
180.4
108.3

16.5
180.1
104.3

17.5
178.0
100.0

18.6
174.8
95.4

6.97x

2.39x

1.64x

1.63x

1.66x

1.73x

1.78x

1.83x

30.0%

40.0%

30.0%

30.0
4.7
34.7

40.0
9.4
49.4

30.0
9.4
39.4

30.0
4.7
34.7

40.0
9.4
49.4

30.0
9.4
39.4

(2.6)
(46.9)
(49.4)

(1.2)
(38.3)
(39.4)

20.0
20.0

20.0
20.0

(20.0)
(100.0)
85.3
(34.7)

20.0
20.0
20.0

100.0
100.0
100.0

9.0%
4.7
4.7

100.0
100.0
-

9.0%
9.4
9.4

100.0
100.0
-

9.0%
9.4
9.4

20.0
20.0
-

100.0
100.0
-

9.0%
9.0
9.0

20.0
20.0
-

100.0
100.0
-

9.0%
9.0
9.0

20.0
20.0
-

100.0
(1.2)
98.8
-

20.0
20.0

20.0
20.0

98.8
(1.3)
97.5

97.5
(1.4)
96.1

9.0%
9.0
9.0

9.0%
8.9
8.9

9.0%
8.8
8.8

1
1

1
2

1
3

10.2
1.2

10.2
1.3

10.2
1.4

20.0
100.0
(34.7)
85.3

85.3
(46.9)
38.4

38.4
(38.3)
(0.2)
-

2.6

1.2

34.7
34.7
-

34.7
49.4
84.1
-

84.1
39.4
123.6
-

123.6
(4.9)
118.6

118.6
(4.7)
113.9

113.9
(4.6)
109.3

109.3
(4.4)
104.9

104.9
(4.2)
100.7

4.9

4.7

4.6

4.4

4.2

34.7
-

49.4
-

39.4
-

13.0
(2.4)

15.5
(3.2)

18.1
(4.1)

19.8
(4.6)

21.5
(5.2)

34.7
65.5

49.4
92.8

39.4
76.0

10.6
0.2

12.3
0.1

14.0
0.1

15.2
0.1

16.3
0.1

13.0
(4.9)
(9.0)
(1.0)
-

15.5
(4.7)
(9.0)
1.7
(1.0)
0.7
(0.2)
0.5

18.1
(4.6)
(9.0)
4.5
4.5
(1.4)
3.2

19.8
(4.4)
(8.9)
6.5
6.5
(2.0)
4.6

21.5
(4.2)
(8.8)
8.6
8.6
(2.6)
6.0

0.2

1.4

2.0

2.6

(1.0)
-

(1.0)
1.0

(1.0)

(34.7)
(34.7)

(49.4)
(49.4)

(39.4)
(39.4)

20.0
100.0
(85.3)
34.7

46.9
2.6
49.4

38.4
1.2
39.6

0.2
(0.2)
-

15.0
(2.00)
(0.04)
13.0
13.0
13.0
13.0
(13.0)
-

20.2
(2.06)
(0.07)
18.1
(1.4)
16.7
16.7

21.9
(2.09)
(0.08)
19.8
(2.0)
17.8
17.8

23.8
(2.12)
(0.10)
21.5
(2.6)
19.0
19.0

(8.7)
(8.7)

(8.7)
(1.2)
(9.8)

(8.3)
(1.3)
(9.6)

(8.0)
(1.4)
(9.4)

8.2
8.2

9.6
9.6

19.7
(19.7)
-

26.6
26.6

8.2
8.2

9.6
9.6

15.2
8.7

16.7
9.8

17.8
9.6

19.0
9.4

1.8x

1.7x

1.8x

2.0x

6.6
(6.6)
-

0.2

0.2
13.0

13.1
6.6

0.2

13.1

19.7

(20.0)
(20.0)

13.0
-

17.6
(2.03)
(0.05)
15.5
(0.2)
15.2
15.2

6.9
19.7
26.6

252.5
100.0

272.8
100.0

294.6
100.0

13.0
318.1
100.0

15.2
330.6
100.0

16.7
341.8
98.8

17.8
352.5
97.5

19.0
362.8
96.1

2.5x

2.7x

2.9x

3.2x

3.3x

3.5x

3.6x

3.8x

198.3
100.0

214.1
100.0

231.3
100.0

13.0
249.8
100.0

15.2
256.8
100.0

16.7
262.1
98.8

17.8
266.3
97.5

19.0
269.8
96.1

2.0x

2.1x

2.3x

2.5x

2.6x

2.7x

2.7x

2.8x

Year 9
1

Year 10
1

Year 11
1

Year 12
1

Year 13
1

Year 14
1

Year 15
1

Year 16
1

Year 17
1

Year 18
1

2.0%
4.0%
1.4
2.2

2.0%
4.0%
1.4
2.2

2.0%
4.0%
1.5
2.3

2.0%
4.0%
1.5
2.4

2.0%
4.0%
1.5
2.5

2.0%
4.0%
1.5
2.6

2.0%
4.0%
1.6
2.7

2.0%
4.0%
1.6
2.8

2.0%
4.0%
1.6
3.0

2.0%
4.0%
1.7
3.1

4.2
2.2
6.4

4.3
2.2
6.5

4.4
2.3
6.7

4.5
2.4
6.9

4.6
2.5
7.1

4.6
2.6
7.3

4.7
2.7
7.5

4.8
2.8
7.7

4.9
3.0
7.9

5.0
3.1
8.1

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

0.4

0.5

0.7

0.9

1.1

1.3

1.5

1.7

1.9

2.1

1%
5%
1.4
2.2

1%
5%
1.4
2.3

1%
5%
1.4
2.4

1%
5%
1.4
2.5

1%
5%
1.4
2.6

1%
5%
1.4
2.8

1%
5%
1.4
2.9

1%
5%
1.5
3.1

1%
5%
1.5
3.2

1%
5%
1.5
3.4

0.3
0.4
0.7

0.3
0.5
0.7

0.3
0.5
0.8

0.3
0.5
0.8

0.3
0.5
0.8

0.3
0.6
0.8

0.3
0.6
0.9

0.3
0.6
0.9

0.3
0.6
0.9

0.3
0.7
1.0

3.5
9.9
9.9
0.7

3.7
10.2
10.2
0.7

3.8
10.5
10.5
0.8

3.9
10.8
10.8
0.8

4.1
11.1
11.1
0.8

4.2
11.5
11.5
0.8

4.4
11.8
11.8
0.9

4.5
12.2
12.2
0.9

4.7
12.6
12.6
0.9

4.9
13.0
13.0
1.0

3.0%
1.16

3.0%
1.19

3.0%
1.23

3.0%
1.27

3.0%
1.30

3.0%
1.34

3.0%
1.38

3.0%
1.43

3.0%
1.47

3.0%
1.51

3.5
2.3
1.2

3.6
2.4
1.2

3.7
2.5
1.2

3.8
2.5
1.3

3.9
2.6
1.3

4.0
2.7
1.3

4.2
2.8
1.4

4.3
2.9
1.4

4.4
2.9
1.5

4.5
3.0
1.5

4.0%
1.22
12.17

4.0%
1.27
12.65

4.0%
1.32
13.16

4.0%
1.37
13.69

4.0%
1.42
14.23

4.0%
1.48
14.80

4.0%
1.54
15.39

4.0%
1.60
16.01

4.0%
1.67
16.65

4.0%
1.73
17.32

10.4
4.6
1.2
16.2
8.6
24.8

10.7
4.8
1.2
16.7
9.3
26.0

11.1
4.9
1.2
17.2
10.0
27.2

11.4
5.1
1.3
17.7
10.7
28.5

11.7
5.2
1.3
18.3
11.6
29.8

12.1
5.4
1.3
18.8
12.5
31.3

12.5
5.5
1.4
19.4
13.4
32.8

12.8
5.7
1.4
20.0
14.5
34.4

13.2
5.9
1.5
20.6
15.6
36.2

13.6
6.1
1.5
21.2
16.9
38.0

3.7
1.16
3.19

3.9
1.19
3.23

4.0
1.23
3.27

4.2
1.27
3.31

4.4
1.30
3.36

4.6
1.34
3.40

4.8
1.38
3.45

5.0
1.43
3.50

5.2
1.47
3.55

5.5
1.51
3.61

1.5%
1.08
2.2

1.5%
1.09
2.2

1.5%
1.11
2.2

1.5%
1.13
2.3

1.5%
1.14
2.3

1.5%
1.16
2.3

1.5%
1.18
2.4

1.5%
1.20
2.4

1.5%
1.21
2.4

1.5%
1.23
2.5

2.0%
1.10

2.0%
1.13

2.0%
1.15

2.0%
1.17

2.0%
1.20

2.0%
1.22

2.0%
1.24

2.0%
1.27

2.0%
1.29

2.0%
1.32

0.11

0.11

0.11

0.12

0.12

0.12

0.12

0.13

0.13

0.13

5.5
2.7

5.6
2.7

5.7
2.7

5.9
2.7

6.0
2.7

6.1
2.7

6.2
2.7

6.3
2.7

6.5
2.7

6.6
2.7

77.1
100.8
0.3

77.1
106.3
0.4

77.1
112.1
0.5

77.1
118.3
0.5

77.1
124.8
0.6

77.1
131.7
0.7

77.1
138.9
0.8

77.1
146.5
0.9

77.1
154.6
1.0

77.1
163.0
1.1

0.08
0.0
0.11

0.08
0.0
0.13

0.09
0.1
0.14

0.09
0.1
0.15

0.10
0.1
0.17

0.10
0.1
0.19

0.11
0.1
0.21

0.11
0.1
0.23

0.12
0.1
0.25

0.13
0.1
0.28

2.3

2.3

2.4

2.4

2.5

2.5

2.6

2.6

2.7

2.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

95.4
(5.0)
90.4

90.4
(5.4)
84.9

84.9
(5.9)
79.1

79.1
(6.3)
72.7

72.7
(6.8)
65.9

65.9
(7.4)
58.5

58.5
(8.0)
50.5

50.5
(8.6)
41.9

41.9
(9.3)
32.6

10.7
10.7
-

32.6
(10.0)
22.6
-

8.0%
7.6

8.0%
7.2

8.0%
6.8

8.0%
6.3

8.0%
5.8

8.0%
5.3

8.0%
4.7

8.0%
4.0

8.0%
3.4

8.0%
2.6

1
4

1
5

1
6

1
7

1
8

1
9

1
10

1
11

1
12

1
13

12.7
5.0

12.7
5.4

12.7
5.9

12.7
6.3

12.7
6.8

12.7
7.4

12.7
8.0

12.7
8.6

12.7
9.3

12.7
10.0

90.3
(3.6)
86.6

86.6
(3.5)
83.2

83.2
(3.3)
79.8

79.8
(3.2)
76.7

76.7
(3.1)
73.6

73.6
(2.9)
70.6

70.6
(2.8)
67.8

67.8
(2.7)
65.1

65.1
(2.6)
62.5

62.5
(2.5)
60.0

3.6

3.5

3.3

3.2

3.1

2.9

2.8

2.7

2.6

2.5

22.6
(5.7)

23.7
(6.1)

24.8
(6.5)

26.1
(6.9)

27.4
(7.3)

28.8
(7.7)

30.3
(8.2)

31.8
(8.7)

33.5
(9.3)

35.3
(9.8)

16.9

17.6

18.4

19.2

20.1

21.0

22.0

23.1

24.2

25.5

22.6
(3.6)
(7.6)
11.3
11.3
(3.4)
7.9

23.7
(3.5)
(7.2)
13.0
13.0
(3.9)
9.1

24.8
(3.3)
(6.8)
14.7
14.7
(4.4)
10.3

26.1
(3.2)
(6.3)
16.5
16.5
(5.0)
11.6

27.4
(3.1)
(5.8)
18.5
18.5
(5.5)
12.9

28.8
(2.9)
(5.3)
20.6
20.6
(6.2)
14.4

30.3
(2.8)
(4.7)
22.7
22.7
(6.8)
15.9

31.8
(2.7)
(4.0)
25.1
25.1
(7.5)
17.6

33.5
(2.6)
(3.4)
27.5
27.5
(8.3)
19.3

35.3
(2.5)
(2.6)
30.2
30.2
(9.1)
21.1

3.4

3.9

4.4

5.0

5.5

6.2

6.8

7.5

8.3

9.1

24.8
(2.15)
(0.11)
22.6
(3.4)
19.2
19.2
-

26.0
(2.19)
(0.13)
23.7
(3.9)
19.8
19.8
-

27.2
(2.22)
(0.14)
24.8
(4.4)
20.4
20.4
-

28.5
(2.25)
(0.15)
26.1
(5.0)
21.1
21.1
-

29.8
(2.29)
(0.17)
27.4
(5.5)
21.8
21.8
-

31.3
(2.32)
(0.19)
28.8
(6.2)
22.6
22.6
-

32.8
(2.36)
(0.21)
30.3
(6.8)
23.4
23.4
-

34.4
(2.39)
(0.23)
31.8
(7.5)
24.3
24.3
-

36.2
(2.43)
(0.25)
33.5
(8.3)
25.2
25.2
-

38.0
(2.46)
(0.28)
35.3
(9.1)
26.2
26.2
-

(7.6)
(5.0)
(12.7)

(7.2)
(5.4)
(12.7)

(6.8)
(5.9)
(12.7)

(6.3)
(6.3)
(12.7)

(5.8)
(6.8)
(12.7)

(5.3)
(7.4)
(12.7)

(4.7)
(8.0)
(12.7)

(4.0)
(8.6)
(12.7)

(3.4)
(9.3)
(12.7)

(2.6)
(10.0)
(12.7)

6.5
6.5

7.1
7.1

7.8
7.8

8.4
8.4

9.2
9.2

9.9
9.9

10.8
10.8

11.6
11.6

12.6
12.6

13.6
13.6

6.5
6.5

7.1
7.1

7.8
7.8

8.4
8.4

9.2
9.2

9.9
9.9

10.8
10.8

11.6
11.6

12.6
12.6

13.6
13.6

19.2
12.7

19.8
12.7

20.4
12.7

21.1
12.7

21.8
12.7

22.6
12.7

23.4
12.7

24.3
12.7

25.2
12.7

26.2
12.7

1.52x

1.56x

1.61x

1.67x

1.72x

1.79x

1.85x

1.92x

1.99x

2.07x

19.2
362.9
90.4

19.8
372.7
84.9

20.4
382.8
79.1

21.1
393.0
72.7

21.8
403.3
65.9

22.6
413.7
58.5

23.4
424.2
50.5

24.3
434.7
41.9

25.2
445.2
32.6

26.2
455.6
22.6

4.0x

4.4x

4.8x

5.4x

6.1x

7.1x

8.4x

10.4x

13.6x

20.2x

19.2
170.1
90.4

19.8
164.6
84.9

20.4
157.9
79.1

21.1
150.2
72.7

21.8
141.1
65.9

22.6
130.5
58.5

23.4
118.4
50.5

24.3
104.4
41.9

25.2
88.5
32.6

26.2
70.3
22.6

1.88x

1.94x

2.00x

2.06x

2.14x

2.23x

2.34x

2.49x

2.71x

3.11x

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

96.1
(1.5)
94.6

94.6
(1.7)
92.9

92.9
(1.8)
91.1

91.1
(2.0)
89.1

89.1
(2.2)
87.0

87.0
(2.4)
84.6

84.6
(2.6)
82.1

82.1
(2.8)
79.3

79.3
(3.0)
76.2

76.2
(3.3)
72.9

9.0%
8.7
8.7

9.0%
8.5
8.5

9.0%
8.4
8.4

9.0%
8.2
8.2

9.0%
8.0
8.0

9.0%
7.8
7.8

9.0%
7.6
7.6

9.0%
7.4
7.4

9.0%
7.1
7.1

9.0%
6.9
6.9

1
4

1
5

1
6

1
7

1
8

1
9

1
10

1
11

1
12

1
13

10.2
1.5

10.2
1.7

10.2
1.8

10.2
2.0

10.2
2.2

10.2
2.4

10.2
2.6

10.2
2.8

10.2
3.0

10.2
3.3

96.7
(3.9)
92.8

92.8
(3.7)
89.1

89.1
(3.6)
85.6

85.6
(3.4)
82.1

82.1
(3.3)
78.9

78.9
(3.2)
75.7

75.7
(3.0)
72.7

72.7
(2.9)
69.8

69.8
(2.8)
67.0

4.0

3.9

3.7

3.6

3.4

3.3

3.2

3.0

2.9

2.8

22.6
(5.6)

23.7
(5.9)

24.8
(6.3)

26.1
(6.8)

27.4
(7.2)

28.8
(7.6)

30.3
(8.1)

31.8
(8.6)

33.5
(9.2)

35.3
(9.8)

17.0
0.1

17.7
0.1

18.5
0.1

19.3
0.1

20.2
0.1

21.1
0.1

22.1
0.1

23.2
0.1

24.3
0.1

25.5
0.1

22.6
(4.0)
(8.7)
9.9
9.9
(3.0)
6.9

23.7
(3.9)
(8.5)
11.3
11.3
(3.4)
7.9

24.8
(3.7)
(8.4)
12.8
12.8
(3.8)
8.9

26.1
(3.6)
(8.2)
14.3
14.3
(4.3)
10.0

27.4
(3.4)
(8.0)
15.9
15.9
(4.8)
11.2

28.8
(3.3)
(7.8)
17.7
17.7
(5.3)
12.4

30.3
(3.2)
(7.6)
19.5
19.5
(5.8)
13.6

31.8
(3.0)
(7.4)
21.4
21.4
(6.4)
15.0

33.5
(2.9)
(7.1)
23.5
23.5
(7.0)
16.4

35.3
(2.8)
(6.9)
25.6
25.6
(7.7)
18.0

3.0

3.4

3.8

4.3

4.8

5.3

5.8

6.4

7.0

7.7

100.7
(4.0)
96.7

24.8
(2.15)
(0.11)
22.6
(3.0)
19.6
19.6

26.0
(2.19)
(0.13)
23.7
(3.4)
20.3
20.3

27.2
(2.22)
(0.14)
24.8
(3.8)
21.0
21.0

28.5
(2.25)
(0.15)
26.1
(4.3)
21.8
21.8

29.8
(2.29)
(0.17)
27.4
(4.8)
22.6
22.6

31.3
(2.32)
(0.19)
28.8
(5.3)
23.5
23.5

32.8
(2.36)
(0.21)
30.3
(5.8)
24.4
24.4

34.4
(2.39)
(0.23)
31.8
(6.4)
25.4
25.4

36.2
(2.43)
(0.25)
33.5
(7.0)
26.5
26.5

38.0
(2.46)
(0.28)
35.3
(7.7)
27.6
27.6

(7.6)
(1.5)
(9.2)

(7.2)
(1.7)
(8.9)

(6.8)
(1.8)
(8.6)

(6.3)
(2.0)
(8.3)

(5.8)
(2.2)
(8.0)

(5.3)
(2.4)
(7.6)

(4.7)
(2.6)
(7.2)

(4.0)
(2.8)
(6.8)

(3.4)
(3.0)
(6.4)

(2.6)
(3.3)
(5.9)

10.4
10.4

11.4
11.4

12.4
12.4

13.5
13.5

14.6
14.6

15.9
15.9

17.2
17.2

18.6
18.6

20.1
20.1

21.7
21.7

10.4
10.4

11.4
11.4

12.4
12.4

13.5
13.5

14.6
14.6

15.9
15.9

17.2
17.2

18.6
18.6

20.1
20.1

21.7
21.7

19.6
9.2

20.3
8.9

21.0
8.6

21.8
8.3

22.6
8.0

23.5
7.6

24.4
7.2

25.4
6.8

26.5
6.4

27.6
5.9

2.1x

2.3x

2.4x

2.6x

2.8x

3.1x

3.4x

3.7x

4.1x

4.7x

19.6
372.9
94.6

20.3
383.1
92.9

21.0
393.5
91.1

21.8
404.0
89.1

22.6
414.5
87.0

23.5
425.1
84.6

24.4
435.6
82.1

25.4
446.0
79.3

26.5
456.3
76.2

27.6
466.3
72.9

3.9x

4.1x

4.3x

4.5x

4.8x

5.0x

5.3x

5.6x

6.0x

6.4x

19.6
272.4
94.6

20.3
274.6
92.9

21.0
276.3
91.1

21.8
277.4
89.1

22.6
277.8
87.0

23.5
277.4
84.6

24.4
276.2
82.1

25.4
273.9
79.3

26.5
270.4
76.2

27.6
265.5
72.9

2.9x

3.0x

3.0x

3.1x

3.2x

3.3x

3.4x

3.5x

3.5x

3.6x

Year 19
1

Year 20
1

Year 21
1

Year 22
1

Year 23
1

Year 24
1

Year 25
1

Year 26
1

Year 27
1

Year 28
1

2.0%
4.0%
1.7
3.2

2.0%
4.0%
1.7
3.3

2.0%
4.0%
1.8
3.5

2.0%
4.0%
1.8
3.6

2.0%
4.0%
1.9
3.7

2.0%
4.0%
1.9
3.9

2.0%
4.0%
1.9
4.0

2.0%
4.0%
2.0
4.2

2.0%
4.0%
2.0
4.4

2.0%
4.0%
2.0
4.5

5.1
3.2
8.3

5.2
3.3
8.6

5.3
3.5
8.8

5.4
3.6
9.0

5.6
3.7
9.3

5.7
3.9
9.6

5.8
4.0
9.8

5.9
4.2
10.1

6.0
4.4
10.4

6.1
4.5
10.7

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

2.3

2.6

2.8

3.0

3.3

3.6

3.8

4.1

4.4

4.7

1%
5%
1.5
3.5

1%
5%
1.5
3.7

1%
5%
1.5
3.9

1%
5%
1.6
4.1

1%
5%
1.6
4.3

1%
5%
1.6
4.5

1%
5%
1.6
4.8

1%
5%
1.6
5.0

1%
5%
1.6
5.2

1%
5%
1.6
5.5

0.3
0.7
1.0

0.3
0.7
1.0

0.3
0.8
1.1

0.3
0.8
1.1

0.3
0.9
1.2

0.3
0.9
1.2

0.3
1.0
1.3

0.3
1.0
1.3

0.3
1.0
1.4

0.3
1.1
1.4

5.1
13.4
13.4
1.0

5.2
13.8
13.8
1.0

5.4
14.2
14.2
1.1

5.7
14.7
14.7
1.1

5.9
15.2
15.0
1.1

6.1
15.7
15.0
1.1

6.4
16.2
15.0
1.1

6.6
16.7
15.0
1.1

6.9
17.3
15.0
1.1

7.1
17.8
15.0
1.1

3.0%
1.56

3.0%
1.60

3.0%
1.65

3.0%
1.70

3.0%
1.75

3.0%
1.81

3.0%
1.86

3.0%
1.92

3.0%
1.97

3.0%
2.03

4.7
3.1
1.6

4.8
3.2
1.6

5.0
3.3
1.7

5.1
3.4
1.7

5.3
3.5
1.8

5.4
3.6
1.8

5.6
3.7
1.9

5.7
3.8
1.9

5.9
3.9
2.0

6.1
4.1
2.0

4.0%
1.80
18.01

4.0%
1.87
18.73

4.0%
1.95
19.48

4.0%
2.03
20.26

4.0%
2.11
21.07

4.0%
2.19
21.91

4.0%
2.28
22.79

4.0%
2.37
23.70

4.0%
2.46
24.65

4.0%
2.56
25.63

14.0
6.2
1.6
21.8
18.2
40.0

14.4
6.4
1.6
22.5
19.6
42.1

14.9
6.6
1.7
23.1
21.2
44.4

15.3
6.8
1.7
23.8
22.9
46.8

15.8
7.0
1.8
24.5
24.1
48.6

16.3
7.2
1.8
25.3
25.0
50.3

16.7
7.4
1.9
26.0
26.0
52.1

17.2
7.7
1.9
26.8
27.1
53.9

17.8
7.9
2.0
27.6
28.1
55.8

18.3
8.1
2.0
28.5
29.3
57.7

5.7
1.56
3.66

6.0
1.60
3.72

6.3
1.65
3.79

6.6
1.70
3.85

6.8
1.75
3.88

7.0
1.81
3.90

7.3
1.86
3.92

7.5
1.92
3.94

7.8
1.97
3.96

8.1
2.03
3.98

1.5%
1.25
2.5

1.5%
1.27
2.5

1.5%
1.29
2.6

1.5%
1.31
2.6

1.5%
1.33
2.7

1.5%
1.35
2.7

1.5%
1.37
2.7

1.5%
1.39
2.8

1.5%
1.41
2.8

1.5%
1.43
2.9

2.0%
1.35

2.0%
1.37

2.0%
1.40

2.0%
1.43

2.0%
1.46

2.0%
1.49

2.0%
1.52

2.0%
1.55

2.0%
1.58

2.0%
1.61

0.13

0.14

0.14

0.14

0.15

0.15

0.15

0.15

0.16

0.16

6.7
2.7

6.9
2.7

7.0
2.7

7.1
2.7

7.3
2.7

7.4
2.7

7.6
2.7

7.7
2.7

7.9
2.7

8.0
2.7

77.1
172.0
1.2

77.1
181.4
1.4

77.1
191.4
1.5

77.1
201.9
1.6

77.1
213.0
1.8

77.1
224.7
1.9

77.1
237.1
2.1

77.1
250.1
2.2

77.1
263.8
2.4

77.1
278.3
2.6

0.14
0.2
0.30

0.14
0.2
0.33

0.15
0.2
0.36

0.16
0.2
0.39

0.17
0.3
0.42

0.17
0.3
0.45

0.17
0.3
0.49

0.18
0.3
0.52

0.18
0.4
0.56

0.18
0.4
0.60

2.8

2.9

2.9

3.0

3.1

3.1

3.2

3.3

3.4

3.5

10.7
10.7
-

22.6
(10.9)
11.7
-

10.7
10.7
-

11.7
(11.7)
0.0
-

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

8.0%
1.8

8.0%
0.9

1
14

1
15

12.7
10.9

12.7
11.7

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

60.0
(2.4)
57.6

57.6
(2.3)
55.3

55.3
(2.2)
53.1

53.1
(2.1)
51.0

51.0
(2.0)
48.9

48.9
(2.0)
47.0

47.0
(1.9)
45.1

45.1
(1.8)
43.3

43.3
(1.7)
41.6

41.6
(1.7)
39.9

2.4

2.3

2.2

2.1

2.0

2.0

1.9

1.8

1.7

1.7

37.2
(10.4)

39.2
(11.1)

41.4
(11.8)

43.7
(12.5)

45.5
(13.0)

47.2
(13.6)

48.8
(14.1)

50.6
(14.6)

52.4
(15.2)

54.3
(15.8)

26.8

28.2

29.7

31.3

32.5

33.6

34.8

36.0

37.2

38.5

37.2
(2.4)
(1.8)
33.0
33.0
(9.9)
23.1

39.2
(2.3)
(0.9)
36.0
36.0
(10.8)
25.2

41.4
(2.2)
39.2
39.2
(11.8)
27.4

43.7
(2.1)
41.6
41.6
(12.5)
29.1

45.5
(2.0)
43.5
43.5
(13.0)
30.4

47.2
(2.0)
45.2
45.2
(13.6)
31.6

48.8
(1.9)
47.0
47.0
(14.1)
32.9

50.6
(1.8)
48.8
48.8
(14.6)
34.2

52.4
(1.7)
50.7
50.7
(15.2)
35.5

54.3
(1.7)
52.6
52.6
(15.8)
36.8

9.9

10.8

11.8

12.5

13.0

13.6

14.1

14.6

15.2

15.8

40.0
(2.50)
(0.30)
37.2
(9.9)
27.3
27.3
-

42.1
(2.54)
(0.33)
39.2
(10.8)
28.4
28.4
-

44.4
(2.58)
(0.36)
41.4
(11.8)
29.7
29.7
-

46.8
(2.61)
(0.39)
43.7
(12.5)
31.3
31.3
-

48.6
(2.65)
(0.42)
45.5
(13.0)
32.5
32.5
-

50.3
(2.69)
(0.45)
47.2
(13.6)
33.6
33.6
-

52.1
(2.73)
(0.49)
48.8
(14.1)
34.8
34.8
-

53.9
(2.78)
(0.52)
50.6
(14.6)
36.0
36.0
-

55.8
(2.82)
(0.56)
52.4
(15.2)
37.2
37.2
-

57.7
(2.86)
(0.60)
54.3
(15.8)
38.5
38.5
-

(1.8)
(10.9)
(12.7)

(0.9)
(11.7)
(12.7)

14.6
14.6

15.8
15.8

29.7
29.7

31.3
31.3

32.5
32.5

33.6
33.6

34.8
34.8

36.0
36.0

37.2
37.2

38.5
38.5

14.6
14.6

15.8
15.8

29.7
29.7

31.3
31.3

32.5
32.5

33.6
33.6

34.8
34.8

36.0
36.0

37.2
37.2

38.5
38.5

27.3
12.7

28.4
12.7

29.7
-

31.3
-

32.5
-

33.6
-

34.8
-

36.0
-

37.2
-

38.5
-

2.16x

2.25x

27.3
465.8
11.7

28.4
475.7
-

39.7x

27.3
49.7
11.7
4.24x

28.4
26.3
-

29.7
485.4
-

31.3
494.5
-

32.5
502.8
-

33.6
510.6
-

34.8
517.8
-

36.0
524.5
-

37.2
530.5
-

38.5
535.7
-

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

72.9
(3.6)
69.3

69.3
(3.9)
65.3

65.3
(4.3)
61.0

61.0
(4.7)
56.3

56.3
(5.1)
51.2

51.2
(5.6)
45.7

45.7
(6.1)
39.6

39.6
(6.6)
33.0

33.0
(7.2)
25.8

25.8
(7.9)
17.9

9.0%
6.6
6.6

9.0%
6.2
6.2

9.0%
5.9
5.9

9.0%
5.5
5.5

9.0%
5.1
5.1

9.0%
4.6
4.6

9.0%
4.1
4.1

9.0%
3.6
3.6

9.0%
3.0
3.0

9.0%
2.3
2.3

1
14

1
15

1
16

1
17

1
18

1
19

1
20

1
21

1
22

1
23

10.2
3.6

10.2
3.9

10.2
4.3

10.2
4.7

10.2
5.1

10.2
5.6

10.2
6.1

10.2
6.6

10.2
7.2

10.2
7.9

67.0
(2.7)
64.3

64.3
(2.6)
61.7

61.7
(2.5)
59.3

59.3
(2.4)
56.9

56.9
(2.3)
54.6

54.6
(2.2)
52.4

52.4
(2.1)
50.3

50.3
(2.0)
48.3

48.3
(1.9)
46.4

46.4
(1.9)
44.5

2.7

2.6

2.5

2.4

2.3

2.2

2.1

2.0

1.9

1.9

37.2
(10.4)

39.2
(11.0)

41.4
(11.7)

43.7
(12.4)

45.5
(13.0)

47.2
(13.5)

48.8
(14.0)

50.6
(14.6)

52.4
(15.1)

54.3
(15.7)

26.8
0.1

28.2
0.1

29.7
0.1

31.3
0.1

32.6
0.1

33.7
0.1

34.8
0.1

36.0
0.1

37.3
0.1

38.5
0.1

37.2
(2.7)
(6.6)
28.0
28.0
(8.4)
19.6

39.2
(2.6)
(6.2)
30.4
30.4
(9.1)
21.3

41.4
(2.5)
(5.9)
33.1
33.1
(9.9)
23.1

43.7
(2.4)
(5.5)
35.9
35.9
(10.8)
25.1

45.5
(2.3)
(5.1)
38.2
38.2
(11.5)
26.7

47.2
(2.2)
(4.6)
40.4
40.4
(12.1)
28.3

48.8
(2.1)
(4.1)
42.6
42.6
(12.8)
29.8

50.6
(2.0)
(3.6)
45.0
45.0
(13.5)
31.5

52.4
(1.9)
(3.0)
47.5
47.5
(14.2)
33.2

54.3
(1.9)
(2.3)
50.1
50.1
(15.0)
35.1

8.4

9.1

9.9

10.8

11.5

12.1

12.8

13.5

14.2

15.0

40.0
(2.50)
(0.30)
37.2
(8.4)
28.8
28.8

42.1
(2.54)
(0.33)
39.2
(9.1)
30.1
30.1

44.4
(2.58)
(0.36)
41.4
(9.9)
31.5
31.5

46.8
(2.61)
(0.39)
43.7
(10.8)
33.0
33.0

48.6
(2.65)
(0.42)
45.5
(11.5)
34.1
34.1

50.3
(2.69)
(0.45)
47.2
(12.1)
35.1
35.1

52.1
(2.73)
(0.49)
48.8
(12.8)
36.1
36.1

53.9
(2.78)
(0.52)
50.6
(13.5)
37.1
37.1

55.8
(2.82)
(0.56)
52.4
(14.2)
38.1
38.1

57.7
(2.86)
(0.60)
54.3
(15.0)
39.2
39.2

(1.8)
(3.6)
(5.4)

(0.9)
(3.9)
(4.9)

(4.3)
(4.3)

(4.7)
(4.7)

(5.1)
(5.1)

(5.6)
(5.6)

(6.1)
(6.1)

(6.6)
(6.6)

(7.2)
(7.2)

(7.9)
(7.9)

23.4
23.4

25.2
25.2

27.2
27.2

28.3
28.3

29.0
29.0

29.5
29.5

30.0
30.0

30.5
30.5

30.9
30.9

31.4
31.4

23.4
23.4

25.2
25.2

27.2
27.2

28.3
28.3

29.0
29.0

29.5
29.5

30.0
30.0

30.5
30.5

30.9
30.9

31.4
31.4

28.8
5.4

30.1
4.9

31.5
4.3

33.0
4.7

34.1
5.1

35.1
5.6

36.1
6.1

37.1
6.6

38.1
7.2

39.2
7.9

5.3x

6.2x

7.3x

7.0x

6.7x

6.3x

5.9x

5.6x

5.3x

5.0x

28.8
476.0
69.3

30.1
485.3
65.3

31.5
494.0
61.0

33.0
502.0
56.3

34.1
509.2
51.2

35.1
515.9
45.7

36.1
522.1
39.6

37.1
527.8
33.0

38.1
533.0
25.8

39.2
537.4
17.9

6.9x

7.4x

8.1x

8.9x

9.9x

11.3x

13.2x

16.0x

20.7x

30.0x

28.8
259.2
69.3

30.1
251.1
65.3

31.5
241.0
61.0

33.0
228.8
56.3

34.1
214.2
51.2

35.1
197.2
45.7

36.1
177.9
39.6

37.1
156.1
33.0

38.1
131.5
25.8

39.2
103.9
17.9

3.7x

3.8x

3.9x

4.1x

4.2x

4.3x

4.5x

4.7x

5.1x

5.8x

Year 29
1

Year 30
1

Year 31
1

Year 32
1

Year 33
1

Year 34
1

Year 35
1

Year 36
1

Year 37
1

Year 38
1

2.0%
4.0%
2.1
4.7

2.0%
4.0%
2.1
4.9

2.0%
4.0%
2.2
5.1

2.0%
4.0%
2.2
5.3

2.0%
4.0%
2.3
5.5

2.0%
4.0%
2.3
5.7

2.0%
4.0%
2.3
6.0

2.0%
4.0%
2.4
6.2

2.0%
4.0%
2.4
6.5

2.0%
4.0%
2.5
6.7

6.3
4.7
11.0

6.4
4.9
11.3

6.5
5.1
11.6

6.6
5.3
12.0

6.8
5.5
12.3

6.9
5.7
12.7

7.0
6.0
13.0

7.2
6.2
13.4

7.3
6.5
13.8

7.5
6.7
14.2

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

5.0

5.3

5.6

6.0

6.3

6.7

7.0

7.4

7.8

8.2

1%
5%
1.7
5.8

1%
5%
1.7
6.1

1%
5%
1.7
6.4

1%
5%
1.7
6.7

1%
5%
1.7
7.0

1%
5%
1.7
7.4

1%
5%
1.8
7.7

1%
5%
1.8
8.1

1%
5%
1.8
8.5

1%
5%
1.8
9.0

0.3
1.2
1.5

0.3
1.2
1.5

0.3
1.3
1.6

0.3
1.3
1.7

0.3
1.4
1.8

0.3
1.5
1.8

0.4
1.5
1.9

0.4
1.6
2.0

0.4
1.7
2.1

0.4
1.8
2.2

7.4
18.4
15.0
1.1

7.7
19.0
15.0
1.1

8.1
19.7
15.0
1.1

8.4
20.4
15.0
1.1

8.8
21.1
15.0
1.1

9.1
21.8
15.0
1.1

9.5
22.5
15.0
1.1

9.9
23.3
15.0
1.1

10.3
24.1
15.0
1.1

10.8
25.0
15.0
1.1

3.0%
2.09

3.0%
2.16

3.0%
2.22

3.0%
2.29

3.0%
2.36

3.0%
2.43

3.0%
2.50

3.0%
2.58

3.0%
2.65

3.0%
2.73

6.3
4.2
2.1

6.5
4.3
2.2

6.7
4.4
2.2

6.9
4.6
2.3

7.1
4.7
2.4

7.3
4.9
2.4

7.5
5.0
2.5

7.7
5.2
2.6

8.0
5.3
2.7

8.2
5.5
2.7

4.0%
2.67
26.66

4.0%
2.77
27.72

4.0%
2.88
28.83

4.0%
3.00
29.99

4.0%
3.12
31.19

4.0%
3.24
32.43

4.0%
3.37
33.73

4.0%
3.51
35.08

4.0%
3.65
36.48

4.0%
3.79
37.94

18.8
8.4
2.1
29.3
30.4
59.8

19.4
8.6
2.2
30.2
31.7
61.9

20.0
8.9
2.2
31.1
32.9
64.0

20.6
9.2
2.3
32.0
34.2
66.3

21.2
9.4
2.4
33.0
35.6
68.6

21.8
9.7
2.4
34.0
37.0
71.0

22.5
10.0
2.5
35.0
38.5
73.5

23.2
10.3
2.6
36.1
40.1
76.1

23.9
10.6
2.7
37.1
41.7
78.8

24.6
10.9
2.7
38.2
43.3
81.6

8.4
2.09
4.00

8.7
2.16
4.02

9.0
2.22
4.04

9.3
2.29
4.06

9.6
2.36
4.08

9.9
2.43
4.10

10.3
2.50
4.12

10.7
2.58
4.14

11.0
2.65
4.16

11.4
2.73
4.18

1.5%
1.45
2.9

1.5%
1.47
2.9

1.5%
1.49
3.0

1.5%
1.52
3.0

1.5%
1.54
3.1

1.5%
1.56
3.1

1.5%
1.59
3.2

1.5%
1.61
3.2

1.5%
1.63
3.3

1.5%
1.66
3.3

2.0%
1.64

2.0%
1.67

2.0%
1.71

2.0%
1.74

2.0%
1.78

2.0%
1.81

2.0%
1.85

2.0%
1.88

2.0%
1.92

2.0%
1.96

0.16

0.17

0.17

0.17

0.18

0.18

0.18

0.19

0.19

0.20

8.2
2.7

8.4
2.7

8.5
2.7

8.7
2.7

8.9
2.7

9.0
2.7

9.0
2.7

9.0
2.7

9.0
2.7

9.0
2.7

77.1
293.6
2.8

77.1
309.7
3.0

77.1
326.7
3.2

77.1
344.7
3.5

77.1
363.6
3.7

77.1
377.1
3.9

77.1
377.1
3.9

77.1
377.1
3.9

77.1
377.1
3.9

77.1
377.1
3.9

0.19
0.5
0.65

0.19
0.5
0.70

0.19
0.6
0.75

0.20
0.6
0.80

0.20
0.7
0.86

0.21
0.7
0.91

0.21
0.7
0.93

0.22
0.7
0.95

0.22
0.7
0.97

0.22
0.8
0.99

3.5

3.6

3.7

3.8

3.9

4.0

4.1

4.2

4.2

4.3

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

39.9
(1.6)
38.3

38.3
(1.5)
36.8

36.8
(1.5)
35.3

35.3
(1.4)
33.9

33.9
(1.4)
32.5

32.5
(1.3)
31.2

31.2
(1.2)
30.0

30.0
(1.2)
28.8

28.8
(1.2)
27.6

27.6
(1.1)
26.5

1.6

1.5

1.5

1.4

1.4

1.3

1.2

1.2

1.2

1.1

56.2
(16.4)

58.2
(17.0)

60.3
(17.6)

62.4
(18.3)

64.7
(19.0)

67.0
(19.7)

69.4
(20.5)

71.9
(21.2)

74.6
(22.0)

77.3
(22.9)

39.8

41.2

42.6

44.1

45.7

47.3

49.0

50.7

52.5

54.4

56.2
(1.6)
54.6
54.6
(16.4)
38.2

58.2
(1.5)
56.7
56.7
(17.0)
39.7

60.3
(1.5)
58.8
58.8
(17.6)
41.2

62.4
(1.4)
61.0
61.0
(18.3)
42.7

64.7
(1.4)
63.3
63.3
(19.0)
44.3

67.0
(1.3)
65.7
65.7
(19.7)
46.0

69.4
(1.2)
68.2
68.2
(20.5)
47.7

71.9
(1.2)
70.7
70.7
(21.2)
49.5

74.6
(1.2)
73.4
73.4
(22.0)
51.4

77.3
(1.1)
76.2
76.2
(22.9)
53.3

16.4

17.0

17.6

18.3

19.0

19.7

20.5

21.2

22.0

22.9

59.8
(2.90)
(0.65)
56.2
(16.4)
39.8
39.8
-

61.9
(2.95)
(0.70)
58.2
(17.0)
41.2
41.2
-

64.0
(2.99)
(0.75)
60.3
(17.6)
42.6
42.6
-

66.3
(3.03)
(0.80)
62.4
(18.3)
44.1
44.1
-

68.6
(3.08)
(0.86)
64.7
(19.0)
45.7
45.7
-

71.0
(3.13)
(0.91)
67.0
(19.7)
47.3
47.3
-

73.5
(3.17)
(0.93)
69.4
(20.5)
49.0
49.0
-

76.1
(3.22)
(0.95)
71.9
(21.2)
50.7
50.7
-

78.8
(3.27)
(0.97)
74.6
(22.0)
52.5
52.5
-

81.6
(3.32)
(0.99)
77.3
(22.9)
54.4
54.4
-

39.8
39.8

41.2
41.2

42.6
42.6

44.1
44.1

45.7
45.7

47.3
47.3

49.0
49.0

50.7
50.7

52.5
52.5

54.4
54.4

39.8
39.8

41.2
41.2

42.6
42.6

44.1
44.1

45.7
45.7

47.3
47.3

49.0
49.0

50.7
50.7

52.5
52.5

54.4
54.4

39.8
-

41.2
-

42.6
-

44.1
-

45.7
-

47.3
-

49.0
-

50.7
-

52.5
-

54.4
-

39.8
540.1
-

41.2
543.5
-

42.6
545.8
-

44.1
546.8
-

45.7
546.4
-

47.3
544.4
-

49.0
540.7
-

50.7
535.0
-

52.5
527.1
-

54.4
516.7
-

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

17.9
(8.6)
9.3

9.3
(9.3)
0.0

9.0%
1.6
1.6

9.0%
0.8
0.8

1
24

1
25

10.2
8.6

10.2
9.3

44.5
(1.8)
42.7

42.7
(1.7)
41.0

41.0
(1.6)
39.4

39.4
(1.6)
37.8

37.8
(1.5)
36.3

36.3
(1.5)
34.9

34.9
(1.4)
33.5

33.5
(1.3)
32.1

32.1
(1.3)
30.8

30.8
(1.2)
29.6

1.8

1.7

1.6

1.6

1.5

1.5

1.4

1.3

1.3

1.2

56.2
(16.3)

58.2
(17.0)

60.3
(17.6)

62.4
(18.3)

64.7
(18.9)

67.0
(19.7)

69.4
(20.4)

71.9
(21.2)

74.6
(22.0)

77.3
(22.8)

39.9
0.1

41.3
0.1

42.7
0.1

44.2
0.0

45.7
0.0

47.3
0.0

49.0
0.0

50.8
0.0

52.6
0.0

54.5
0.0

56.2
(1.8)
(1.6)
52.8
52.8
(15.8)
37.0

58.2
(1.7)
(0.8)
55.7
55.7
(16.7)
39.0

60.3
(1.6)
58.6
58.6
(17.6)
41.1

62.4
(1.6)
60.9
60.9
(18.3)
42.6

64.7
(1.5)
63.2
63.2
(18.9)
44.2

67.0
(1.5)
65.5
65.5
(19.7)
45.9

69.4
(1.4)
68.0
68.0
(20.4)
47.6

71.9
(1.3)
70.6
70.6
(21.2)
49.4

74.6
(1.3)
73.3
73.3
(22.0)
51.3

77.3
(1.2)
76.0
76.0
(22.8)
53.2

15.8

16.7

17.6

18.3

18.9

19.7

20.4

21.2

22.0

22.8

59.8
(2.90)
(0.65)
56.2
(15.8)
40.4
40.4

61.9
(2.95)
(0.70)
58.2
(16.7)
41.5
41.5

(8.6)
(8.6)

(9.3)
(9.3)

31.8
31.8

32.2
32.2

64.0
(2.99)
(0.75)
60.3
(17.6)
42.7
42.7
42.7
42.7

66.3
(3.03)
(0.80)
62.4
(18.3)
44.2
44.2
44.2
44.2

68.6
(3.08)
(0.86)
64.7
(18.9)
45.7
45.7
45.7
45.7

71.0
(3.13)
(0.91)
67.0
(19.7)
47.3
47.3
47.3
47.3

73.5
(3.17)
(0.93)
69.4
(20.4)
49.0
49.0
49.0
49.0

76.1
(3.22)
(0.95)
71.9
(21.2)
50.8
50.8
50.8
50.8

78.8
(3.27)
(0.97)
74.6
(22.0)
52.6
52.6
52.6
52.6

81.6
(3.32)
(0.99)
77.3
(22.8)
54.5
54.5
54.5
54.5

31.8
31.8

32.2
32.2

42.7
42.7

44.2
44.2

45.7
45.7

47.3
47.3

49.0
49.0

50.8
50.8

52.6
52.6

54.5
54.5

40.4
8.6

41.5
9.3

42.7
-

44.2
-

45.7
-

47.3
-

49.0
-

50.8
-

52.6
-

54.5
-

4.7x

4.4x

40.4
541.2
9.3
57.9x

40.4
73.0
9.3
7.8x

41.5
544.1
-

41.5
38.4
-

42.7
546.2
-

44.2
547.1
-

45.7
546.7
-

47.3
544.8
-

49.0
541.0
-

50.8
535.3
-

52.6
527.3
-

54.5
517.0
-

Year 39
1

Year 40
1

Year 41
1

Year 42
1

Year 43
1

Year 44
1

Year 45
1

Year 46
1

Year 47
1

Year 48
1

2.0%
4.0%
2.5
7.0

2.0%
4.0%
2.6
7.3

2.0%
4.0%
2.6
7.6

2.0%
4.0%
2.7
7.9

2.0%
4.0%
2.8
8.2

2.0%
4.0%
2.8
8.5

2.0%
4.0%
2.9
8.9

2.0%
4.0%
2.9
9.2

2.0%
4.0%
3.0
9.6

2.0%
4.0%
3.0
10.0

7.6
7.0
14.6

7.8
7.3
15.1

7.9
7.6
15.5

8.1
7.9
16.0

8.3
8.2
16.4

8.4
8.5
16.9

8.6
8.9
17.4

8.8
9.2
18.0

8.9
9.6
18.5

9.1
10.0
19.1

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

8.6

9.1

9.5

10.0

10.4

10.9

11.4

12.0

12.5

13.1

1%
5%
1.8
9.4

1%
5%
1.9
9.9

1%
5%
1.9
10.4

1%
5%
1.9
10.9

1%
5%
1.9
11.4

1%
5%
1.9
12.0

1%
5%
1.9
12.6

1%
5%
2.0
13.2

1%
5%
2.0
13.9

1%
5%
2.0
14.6

0.4
1.9
2.2

0.4
2.0
2.3

0.4
2.1
2.4

0.4
2.2
2.6

0.4
2.3
2.7

0.4
2.4
2.8

0.4
2.5
2.9

0.4
2.6
3.0

0.4
2.8
3.2

0.4
2.9
3.3

11.2
25.9
15.0
1.1

11.7
26.8
15.0
1.1

12.2
27.7
15.0
1.1

12.8
28.7
15.0
1.1

13.3
29.8
15.0
1.1

13.9
30.9
15.0
1.1

14.6
32.0
15.0
1.1

15.2
33.2
15.0
1.1

15.9
34.4
15.0
1.1

16.6
35.7
15.0
1.1

3.0%
2.81

3.0%
2.90

3.0%
2.99

3.0%
3.07

3.0%
3.17

3.0%
3.26

3.0%
3.36

3.0%
3.46

3.0%
3.56

3.0%
3.67

8.4
5.6
2.8

8.7
5.8
2.9

9.0
6.0
3.0

9.2
6.1
3.1

9.5
6.3
3.2

9.8
6.5
3.3

10.1
6.7
3.4

10.4
6.9
3.5

10.7
7.1
3.6

11.0
7.3
3.7

4.0%
3.95
39.46

4.0%
4.10
41.04

4.0%
4.27
42.68

4.0%
4.44
44.39

4.0%
4.62
46.16

4.0%
4.80
48.01

4.0%
4.99
49.93

4.0%
5.19
51.93

4.0%
5.40
54.00

4.0%
5.62
56.17

25.3
11.3
2.8
39.4
45.1
84.5

26.1
11.6
2.9
40.6
46.9
87.4

26.9
11.9
3.0
41.8
48.7
90.5

27.7
12.3
3.1
43.0
50.7
93.7

28.5
12.7
3.2
44.3
52.7
97.1

29.4
13.0
3.3
45.7
54.8
100.5

30.2
13.4
3.4
47.0
57.0
104.1

31.1
13.8
3.5
48.4
59.3
107.8

32.1
14.3
3.6
49.9
61.7
111.6

33.0
14.7
3.7
51.4
64.1
115.5

11.8
2.81
4.20

12.2
2.90
4.22

12.7
2.99
4.25

13.1
3.07
4.27

13.6
3.17
4.29

14.1
3.26
4.31

14.6
3.36
4.34

15.1
3.46
4.36

15.6
3.56
4.38

16.2
3.67
4.41

1.5%
1.68
3.4

1.5%
1.71
3.4

1.5%
1.73
3.5

1.5%
1.76
3.5

1.5%
1.79
3.6

1.5%
1.81
3.6

1.5%
1.84
3.7

1.5%
1.87
3.7

1.5%
1.90
3.8

1.5%
1.93
3.9

2.0%
2.00

2.0%
2.04

2.0%
2.08

2.0%
2.12

2.0%
2.16

2.0%
2.21

2.0%
2.25

2.0%
2.30

2.0%
2.34

2.0%
2.39

0.20

0.20

0.21

0.21

0.22

0.22

0.23

0.23

0.23

0.24

9.0
2.7

9.0
2.7

9.0
2.7

9.0
2.7

9.0
2.7

9.0
2.7

9.0
2.7

9.0
2.7

9.0
2.7

9.0
2.7

77.1
377.1
3.9

77.1
377.1
3.9

77.1
377.1
3.9

77.1
377.1
3.9

77.1
377.1
3.9

77.1
377.1
3.9

77.1
377.1
3.9

77.1
377.1
3.9

77.1
377.1
3.9

77.1
377.1
3.9

0.23
0.8
1.01

0.23
0.8
1.03

0.24
0.8
1.05

0.24
0.8
1.07

0.25
0.8
1.09

0.25
0.9
1.11

0.26
0.9
1.13

0.26
0.9
1.16

0.27
0.9
1.18

0.27
0.9
1.20

4.4

4.4

4.5

4.6

4.7

4.7

4.8

4.9

5.0

5.1

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

26.5
(1.1)
25.5

25.5
(1.0)
24.4

24.4
(1.0)
23.5

23.5
(0.9)
22.5

22.5
(0.9)
21.6

21.6
(0.9)
20.8

20.8
(0.8)
19.9

19.9
(0.8)
19.1

19.1
(0.8)
18.4

18.4
(0.7)
17.6

1.1

1.0

1.0

0.9

0.9

0.9

0.8

0.8

0.8

0.7

80.1
(23.7)

83.0
(24.6)

86.0
(25.5)

89.1
(26.5)

92.4
(27.4)

95.8
(28.5)

99.2
(29.5)

102.9
(30.6)

106.6
(31.8)

110.5
(32.9)

56.4

58.4

60.5

62.7

64.9

67.3

69.7

72.2

74.9

77.6

80.1
(1.1)
79.0
79.0
(23.7)
55.3

83.0
(1.0)
82.0
82.0
(24.6)
57.4

86.0
(1.0)
85.0
85.0
(25.5)
59.5

89.1
(0.9)
88.2
88.2
(26.5)
61.7

92.4
(0.9)
91.5
91.5
(27.4)
64.0

95.8
(0.9)
94.9
94.9
(28.5)
66.4

99.2
(0.8)
98.4
98.4
(29.5)
68.9

102.9
(0.8)
102.1
102.1
(30.6)
71.4

106.6
(0.8)
105.8
105.8
(31.8)
74.1

110.5
(0.7)
109.8
109.8
(32.9)
76.8

23.7

24.6

25.5

26.5

27.4

28.5

29.5

30.6

31.8

32.9

84.5
(3.37)
(1.01)
80.1
(23.7)
56.4
56.4
-

87.4
(3.42)
(1.03)
83.0
(24.6)
58.4
58.4
-

90.5
(3.47)
(1.05)
86.0
(25.5)
60.5
60.5
-

93.7
(3.52)
(1.07)
89.1
(26.5)
62.7
62.7
-

97.1
(3.57)
(1.09)
92.4
(27.4)
64.9
64.9
-

100.5
(3.63)
(1.11)
95.8
(28.5)
67.3
67.3
-

104.1
(3.68)
(1.13)
99.2
(29.5)
69.7
69.7
-

107.8
(3.74)
(1.16)
102.9
(30.6)
72.2
72.2
-

111.6
(3.79)
(1.18)
106.6
(31.8)
74.9
74.9
-

115.5
(3.85)
(1.20)
110.5
(32.9)
77.6
77.6
-

56.4
56.4

58.4
58.4

60.5
60.5

62.7
62.7

64.9
64.9

67.3
67.3

69.7
69.7

72.2
72.2

74.9
74.9

77.6
77.6

56.4
56.4

58.4
58.4

60.5
60.5

62.7
62.7

64.9
64.9

67.3
67.3

69.7
69.7

72.2
72.2

74.9
74.9

77.6
77.6

56.4
-

58.4
-

60.5
-

62.7
-

64.9
-

67.3
-

69.7
-

72.2
-

74.9
-

77.6
-

56.4
503.6
-

58.4
487.5
-

60.5
468.1
-

62.7
445.1
-

64.9
418.0
-

67.3
386.5
-

69.7
350.1
-

72.2
308.4
-

74.9
260.8
-

77.6
206.8
-

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

20.0
20.0

29.6
(1.2)
28.4

28.4
(1.1)
27.3

27.3
(1.1)
26.2

26.2
(1.0)
25.1

25.1
(1.0)
24.1

24.1
(1.0)
23.2

23.2
(0.9)
22.2

22.2
(0.9)
21.4

21.4
(0.9)
20.5

20.5
(0.8)
19.7

1.2

1.1

1.1

1.0

1.0

1.0

0.9

0.9

0.9

0.8

80.1
(23.7)

83.0
(24.6)

86.0
(25.5)

89.1
(26.4)

92.4
(27.4)

95.8
(28.4)

99.2
(29.5)

102.9
(30.6)

106.6
(31.7)

110.5
(32.9)

56.4
0.0

58.4
0.0

60.5
0.0

62.7
0.0

65.0
0.0

67.3
0.0

69.7
0.0

72.3
0.0

74.9
0.0

77.6
0.0

80.1
(1.2)
78.9
78.9
(23.7)
55.2

83.0
(1.1)
81.9
81.9
(24.6)
57.3

86.0
(1.1)
84.9
84.9
(25.5)
59.4

89.1
(1.0)
88.1
88.1
(26.4)
61.7

92.4
(1.0)
91.4
91.4
(27.4)
64.0

95.8
(1.0)
94.8
94.8
(28.4)
66.4

99.2
(0.9)
98.3
98.3
(29.5)
68.8

102.9
(0.9)
102.0
102.0
(30.6)
71.4

106.6
(0.9)
105.8
105.8
(31.7)
74.0

110.5
(0.8)
109.7
109.7
(32.9)
76.8

23.7

24.6

25.5

26.4

27.4

28.4

29.5

30.6

31.7

32.9

84.5
(3.37)
(1.01)
80.1
(23.7)
56.4
56.4
56.4
56.4

87.4
(3.42)
(1.03)
83.0
(24.6)
58.4
58.4
58.4
58.4

90.5
(3.47)
(1.05)
86.0
(25.5)
60.5
60.5
60.5
60.5

93.7
(3.52)
(1.07)
89.1
(26.4)
62.7
62.7
62.7
62.7

97.1
(3.57)
(1.09)
92.4
(27.4)
65.0
65.0
65.0
65.0

100.5
(3.63)
(1.11)
95.8
(28.4)
67.3
67.3
67.3
67.3

104.1
(3.68)
(1.13)
99.2
(29.5)
69.7
69.7
69.7
69.7

107.8
(3.74)
(1.16)
102.9
(30.6)
72.3
72.3
72.3
72.3

111.6
(3.79)
(1.18)
106.6
(31.7)
74.9
74.9
74.9
74.9

115.5
(3.85)
(1.20)
110.5
(32.9)
77.6
77.6
77.6
77.6

56.4
56.4

58.4
58.4

60.5
60.5

62.7
62.7

65.0
65.0

67.3
67.3

69.7
69.7

72.3
72.3

74.9
74.9

77.6
77.6

56.4
-

58.4
-

60.5
-

62.7
-

65.0
-

67.3
-

69.7
-

72.3
-

74.9
-

77.6
-

56.4
503.8
-

58.4
487.7
-

60.5
468.3
-

62.7
445.2
-

65.0
418.1
-

67.3
386.6
-

69.7
350.2
-

72.3
308.5
-

74.9
260.9
-

77.6
206.9
-

Year 49 Year 50 Year 51


1
1

Year 52
-

Year 53
-

Year 54
-

Year 55
-

Year 56
-

Year 57
-

Year 58
-

2.0%
4.0%
3.1
10.4

2.0%
4.0%
3.2
10.8

9.3
10.4
19.7

9.5
10.8
20.3

3.0
2.0
1.0
6.0

3.0
2.0
1.0
6.0

13.7

14.3

1%
5%
2.0
15.3

1%
5%
2.0
16.1

0.4
3.1
3.5

0.4
3.2
3.6

17.4
37.0
15.0
1.1

18.1
38.4
15.0
1.1

3.0%
3.78

3.0%
3.90

11.3
7.6
3.8

11.7
7.8
3.9

4.0%
5.84
58.41

4.0%
6.07
60.75

34.0
15.1
3.8
52.9
66.7
119.6

35.1
15.6
3.9
54.5
69.4
123.9

16.8
3.78
4.43

17.3
3.90
4.45

1.5%
1.95
3.9

1.5%
1.98
4.0

2.0%
2.44

2.0%
2.49

0.24

0.25

9.0
2.7

9.0
2.7

9.0
-

9.0
-

9.0
-

9.0
-

9.0
-

9.0
-

9.0
-

9.0
-

77.1
377.1
3.9

77.1
377.1
3.9

0.28
0.9
1.23

0.28
1.0
1.25

5.1

5.2

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

17.6
(0.7)
16.9

16.9
(0.7)
16.2

0.7

0.7

114.5
(34.1)

118.7
(35.4)

80.4

83.3

114.5
(0.7)
113.8
113.8
(34.1)
79.7

118.7
(0.7)
118.0
118.0
(35.4)
82.6

34.1

35.4

119.6
(3.91)
(1.23)
114.5
(34.1)
80.4
80.4
-

123.9
(3.97)
(1.25)
118.7
(35.4)
83.3
83.3
-

80.4
80.4

83.3
83.3

80.4
80.4

83.3
83.3

80.4
-

83.3
-

83.3
77.1
-

80.4
145.8
-

20.0
20.0

20.0
20.0

19.7
(0.8)
18.9

18.9
(0.8)
18.1

0.8

0.8

18.1
18.1
-

18.1
18.1
-

18.1
18.1
-

18.1
18.1
-

18.1
18.1
-

18.1
18.1
-

18.1
18.1
-

18.1
18.1
-

114.5
(34.1)

118.7
(35.4)

80.4
0.0

83.3
0.0

114.5
(0.8)
113.7
113.7
(34.1)
79.6

118.7
(0.8)
117.9
117.9
(35.4)
82.6

34.1

35.4

119.6
(3.91)
(1.23)
114.5
(34.1)
80.4
80.4
80.4
80.4

123.9
(3.97)
(1.25)
118.7
(35.4)
83.3
83.3
83.3
83.3

80.4
80.4

83.3
83.3

80.4
-

83.3
-

80.4
145.9
-

83.3
77.1
-

Year 59
-

Year 60
-

Year 61
-

Year 62
-

Year 63
-

Year 64
-

Year 65
-

Year 66
-

Year 67
-

Year 68
-

9.0
-

9.0
-

9.0
-

9.0
-

9.0
-

9.0
-

9.0
-

9.0
-

9.0
-

9.0
-

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

10.7
10.7

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

8.0%
-

18.1
18.1
-

18.1
18.1
-

18.1
18.1
-

18.1
18.1
-

18.1
18.1
-

18.1
18.1
-

18.1
18.1
-

18.1
18.1
-

18.1
18.1
-

18.1
18.1
-

Year 69
-

Year 70
-

9.0
-

9.0
-

10.7
10.7

10.7
10.7

8.0%
-

8.0%
-

18.1
18.1
-

18.1
18.1
-

RESULTS

Please use the following to record your results.

Bank financing

Bond financing
14.61%
32.45%

Project IRR
Equity IRR

Project IRR
Equity IRR

Equity amount

10.69 RM mil

End of
Construction
3
Loan outstanding
100.0

End ofMaximum
Grace

End of
Construction
PLCR
LLCR
ADSCR

2.85x
1.64x
na

108.3

Equity amount

End of
Construction
Loan outstanding

End of Minimum
Grace
3.19x
1.73x
na

100.0
End of
Construction

2.84x
1.63x

PLCR
LLCR

1.75x

ADSCR

2.95x
2.31x
na

Err:523
28.39%
20.00 RM mil

End ofMaximum
Grace
98.8
End of Minimum
Grace
3.46x
2.65x
na

2.53x
1.98x
4.17x