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["Timeline"]
[null,"Period",null,null,null,null,0,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34,35,36,37,38,39,40]
[null,"Switch",null,null,{"$f":"E7","v":20},null,null,{"$f":"H2<=$E$3","v":true},{"$f":"I2<=$E$3","v":true},true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false]
[]
["Assumptions"]
[null,"Operating"]
[null,null,"Life",null,20]
[null,null,"CFADS",null,91]
[null,null,"Growth",null,0.02]
[null,null,"Capital Expenditures",null,1300]
[]
[null,"Financing"]
[null,null,"Target DSCR",null,1.7000000000000002,"dscr"]
[null,null,"Interest Rate",null,0.04]
[null,null,"Tenure",null,20,"tenure"]
[]
["Opeating Analysis"]
[null,"CFADS",null,null,{"$f":"E8","v":91},{"$f":"E9","v":0.02},null,{"$f":"$E$18","v":91},{"$f":"H18*(1+$F$18)*I3","v":92.820000000000007},{"$f":"I18*(1+$F$18)*J3","v":94.676400000000015},96.569928000000019,98.501326560000024,100.47135309120003,102.48078015302403,104.53039575608452,106.62100367120621,108.75342374463034,110.92849221952295,113.14706206391341,115.41000330519168,117.71820337129552,120.07256743872144,122.47401878749587,124.92349916324578,127.42196914651069,129.9704085294409,132.56981670002972,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Cap Exp",null,null,{"$f":"E10","v":1300},null,{"$f":"E19","v":1300}]
[null,"Free Cash Flow",null,null,null,null,{"$f":"G18-G19","v":-1300},{"$f":"H18-H19","v":91},92.820000000000007,94.676400000000015,96.569928000000019,98.501326560000024,100.47135309120003,102.48078015302403,104.53039575608452,106.62100367120621,108.75342374463034,110.92849221952295,113.14706206391341,115.41000330519168,117.71820337129552,120.07256743872144,122.47401878749587,124.92349916324578,127.42196914651069,129.9704085294409,132.56981670002972,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Project IRR",null,null,{"$f":"IRR(20:20)","v":5.2904323683945043E-2}]
[]
["Financing"]
[null,"Opening Balance",null,null,null,null,null,{"$f":"G26","v":594.68808581410087},{"$f":"H26","v":564.95368152339586},535.21927723269084,505.48487294198583,475.75046865128081,446.0160643605758,416.28166006987078,386.54725577916577,356.81285148846075,327.07844719775574,297.34404290705072,267.60963861634571,237.87523432564066,208.14083003493562,178.40642574423057,148.67202145352553,118.93761716282049,89.203212872115444,59.4688085814104,29.734404290705356,3.1263880373444408E-13,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Less Repayment",null,null,{"$f":"E15","v":20},null,null,{"$f":"MIN($E$26/$E$25,H24)","v":29.734404290705044},{"$f":"MIN($E$26/$E$25,I24)","v":29.734404290705044},29.734404290705044,29.734404290705044,29.734404290705044,29.734404290705044,29.734404290705044,29.734404290705044,29.734404290705044,29.734404290705044,29.734404290705044,29.734404290705044,29.734404290705044,29.734404290705044,29.734404290705044,29.734404290705044,29.734404290705044,29.734404290705044,29.734404290705044,29.734404290705044,3.1263880373444408E-13,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Closing Balance",null,null,594.68808581410087,"debt",{"$f":"E26","v":594.68808581410087},{"$f":"H24-H25","v":564.95368152339586},{"$f":"I24-I25","v":535.21927723269084},505.48487294198583,475.75046865128081,446.0160643605758,416.28166006987078,386.54725577916577,356.81285148846075,327.07844719775574,297.34404290705072,267.60963861634571,237.87523432564066,208.14083003493562,178.40642574423057,148.67202145352553,118.93761716282049,89.203212872115444,59.4688085814104,29.734404290705356,3.1263880373444408E-13,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Interest",null,null,{"$f":"E14","v":0.04},null,null,{"$f":"$E$27*H24","v":23.787523432564036},{"$f":"$E$27*I24","v":22.598147260935836},21.408771089307635,20.219394917679434,19.030018746051233,17.840642574423033,16.651266402794832,15.461890231166631,14.27251405953843,13.08313788791023,11.893761716282029,10.704385544653828,9.5150093730256273,8.3256332013974248,7.1362570297692232,5.9468808581410215,4.7575046865128199,3.5681285148846178,2.3787523432564162,1.1893761716282143,1.2505552149377763E-14,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Debt Service",null,null,null,null,null,{"$f":"H25+H27","v":53.52192772326908},{"$f":"I25+I27","v":52.332551551640876},51.143175380012678,49.953799208384481,48.764423036756277,47.575046865128073,46.385670693499875,45.196294521871678,44.006918350243474,42.81754217861527,41.628166006987072,40.438789835358875,39.249413663730671,38.060037492102467,36.870661320474269,35.681285148846065,34.491908977217861,33.302532805589664,32.113156633961459,30.923780462333259,3.2514435588382183E-13,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"DSCR",null,null,null,null,null,{"$f":"IF(H28>0.1,H20/H28)","v":1.7002377132323847},{"$f":"IF(I28>0.1,I20/I28)","v":1.7736570690310562},1.8512030060026465,1.9331848534113349,{"$f":"IF(L28>0.1,L20/L28)","v":2.0199424175644292},2.111849797563611,2.2093197882203928,2.3128089783001902,2.4228236756463617,2.5399268199692693,2.6647460808363301,2.7979833848781466,2.9404261753810341,3.0929607832289254,3.2565883859545846,3.4324441587961325,3.6218203882469537,3.8261945387266025,4.0472635565196953,4.2869860902520154,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false]
[null,"Min DSCR",null,null,{"$f":"MIN(30:30)","v":1.7002377132323847}]
[null,"Target DSCR",null,null,{"$f":"E13","v":1.7000000000000002}]
[null,"Difference",null,null,{"$f":"E31-E32","v":2.3771323238452879E-4},"Dif"]
[]
[null,"Equity Cash Flow",null,null,null,null,{"$f":"G20+G26","v":-705.31191418589913},{"$f":"H18-H28","v":37.47807227673092},{"$f":"I18-I28","v":40.487448448359132},43.533224619987337,46.616128791615537,49.736903523243747,52.896306226071957,56.095109459524153,59.334101234212838,62.614085320962737,65.93588156601507,69.300326212535879,72.708272228554534,76.160589641461002,79.658165879193049,83.201906118247166,86.792733638649793,90.431590186027918,94.119436340921027,97.857251895479436,101.64603623769646,-3.2514435588382183E-13,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Equity IRR",null,null,{"$f":"IRR(35:35)","v":6.0799231318302116E-2},"eqirr"]
[]
[]
[]
[null,null,null,null,null,null,null,null,"DSCR","Equity IRR"]
[null,null,null,null,null,null,null,null,1.1000000000000001,9.6463036686891712E-2]
[null,null,null,null,null,null,null,null,1.2000000000000002,9.3577660817959485E-2]
[null,null,null,null,null,null,null,null,1.3,9.1362746926821226E-2]
[null,null,null,null,null,null,null,null,1.4000000000000001,8.9626513174398958E-2]
[null,null,null,null,null,null,null,null,1.5,8.8227821990208177E-2]
[null,null,null,null,null,null,null,null,1.6,8.707615188950979E-2]
[null,null,null,null,null,null,null,null,1.7000000000000002,8.6110905080090339E-2]
[]
[null,null,null,null,null,null,null,"CFADS",{"$f":"E8","v":91}]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Tenure"]
[null,null,null,null,null,null,null,null,null,10,12,14,16,18,20]
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[null,null,null,null,null,null,null,"DSCR",1.3,5.6032145617638029E-2,5.7300373788881975E-2,5.883345324718503E-2,6.0697880508645552E-2,6.2957233067656659E-2,6.5704462746330128E-2,null,"startcol",{"$f":"COLUMN(J53)","v":10}]
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