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[null,null,"Contribution Ratio ",{"$f":"'Simple Model'!E88","v":1.3597308351898809}]

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[null,"Pre-tax Pre-Leverage"]
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[null,"After-tax with Full Utilization"]
[null,null,null,"Fair Value Write-up",{"$f":"Summary!D6","v":0.25}]
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[null,null,null,"ITC Rate",0.3]
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[null,null,null,"Basis Reduction",0.5]
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[null,null,null,"Tax Base",{"$f":"E15-E21","v":1062.5}]
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[null,null,null,"Bonus Depreciation",0.6]
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[null,null,null,"Remaining Base",{"$f":"E23-E26","v":425}]
[null,null,null,null,0,1,2,3,4,5,6,7,8,9,10]
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[null,null,null,"Depreciation Rate",{"$f":"LOOKUP(E4,29:29,30:30)","v":0},{"$f":"LOOKUP(F4,29:29,30:30)","v":0.4},0.24,0.14399999999999999,0.108,0.108,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,null,"Less: Taxes Paide",{"$f":"E58","v":0},{"$f":"F58","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,null,"IRR",{"$f":"IRR(E62:AI62)","v":4.9999999999992273E-2}]
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[null,"Partnership Theory"]
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[null,null,"Tax Investor"]
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[null,null,null,"Cash Percent Post",0,{"$f":"$E74*F$5*F$67","v":0},{"$f":"$E74*G$5*G$67","v":0},{"$f":"$E74*H$5*H$67","v":0},{"$f":"$E74*I$5*I$67","v":0},{"$f":"$E74*J$5*J$67","v":0},{"$f":"$E74*K$5*K$67","v":0},{"$f":"$E74*L$5*L$67","v":0},{"$f":"$E74*M$5*M$67","v":0},{"$f":"$E74*N$5*N$67","v":0},{"$f":"$E74*O$5*O$67","v":0},{"$f":"$E74*P$5*P$67","v":0},{"$f":"$E74*Q$5*Q$67","v":0},{"$f":"$E74*R$5*R$67","v":0},{"$f":"$E74*S$5*S$67","v":0},{"$f":"$E74*T$5*T$67","v":0},{"$f":"$E74*U$5*U$67","v":0},{"$f":"$E74*V$5*V$67","v":0},{"$f":"$E74*W$5*W$67","v":0},{"$f":"$E74*X$5*X$67","v":0},{"$f":"$E74*Y$5*Y$67","v":0},{"$f":"$E74*Z$5*Z$67","v":0},{"$f":"$E74*AA$5*AA$67","v":0},{"$f":"$E74*AB$5*AB$67","v":0},{"$f":"$E74*AC$5*AC$67","v":0},{"$f":"$E74*AD$5*AD$67","v":0},{"$f":"$E74*AE$5*AE$67","v":0},{"$f":"$E74*AF$5*AF$67","v":0},{"$f":"$E74*AG$5*AG$67","v":0},{"$f":"$E74*AH$5*AH$67","v":0},{"$f":"$E74*AI$5*AI$67","v":0}]
[]
[null,null,"Sponsor"]
[null,null,null,"Income Percent Pre",{"$f":"1-E70","v":1.0000000000000009E-2},{"$f":"$E$77*F$67*F$37","v":-7.4244856491972406},{"$f":"$E$77*G$67*G$37","v":-0.36948564919723426},3.851435080276612E-2,0.19151435080276624,0.19151435080276624,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Income Percent Post",{"$f":"1-E71","v":0.99},{"$f":"$E$78*NOT(F67)*F37","v":0}]
[]
[null,null,null,"Cash Percent Pre",{"$f":"1-E73","v":1},{"$f":"$E80*F$5*F$67","v":65.051435080276605},{"$f":"$E80*G$5*G$67","v":65.051435080276605},65.051435080276605,65.051435080276605,65.051435080276605,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Cash Percent Post",{"$f":"1-E74","v":1},{"$f":"$E$81*F5*NOT(F67)","v":0},{"$f":"$E$81*G5*NOT(G67)","v":0},0,0,0,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605]
[]
[null,null,null,"ITC to Tax Investor",{"$f":"E70*E18","v":371.25}]
[null,null,null,"ITC to Sponsor",{"$f":"E71*E18","v":3.75}]
[]
[null,null,"Contribution Ratio Input",null,{"$f":"Summary!D10","v":1}]
[]
[null,null,"Contribution Ratio Used",null,1.3597308351898809,"Contribution"]
[]
[null,null,"Tax Invertor Investmeent",null,{"$f":"E88*E18","v":509.89906319620536}]
[]
[null,null,"After Tax Cash Flow - Tax Investor",null,{"$f":"-E90+E83","v":-138.64906319620536},{"$f":"F73+F74-(F70+F71)*$E$38","v":154.35505664681048},{"$f":"G73+G74-(G70+G71)*$E$38","v":7.6816066468104927},-0.80071335318950698,-3.9815833531895062,-3.9815833531895062,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089,-0.13660801366858089]
[null,null,"IRR",null,{"$f":"IRR(E92:AI92)","v":0.1136564429902609}]
[null,null,"After-tax Discount Rate",null,{"$f":"E47","v":0.11365644299026112}]
[null,null,"Value at Discount Rate",null,{"$f":"NPV(E94,E92:AI92)","v":-5.6163031859394304E-14},"NPV 2"]
[]
[]
[null,null,"After-tax Cash Flow - Sponsor",null,{"$f":"E45-E92","v":-486.35093680379464},{"$f":"F45-F92","v":66.610577066608016},{"$f":"G45-G92","v":65.129027066608018},65.043347066608021,65.011217066608026,65.011217066608026,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095,51.527241727087095]
[null,null,"After-tax IRR",null,{"$f":"IRR(E98:AI98)","v":0.11365644299026068}]
[]
[null,"ITC Transfer"]
[null,null,"Cap Exp without Writup",null,{"$f":"E6","v":1000}]
[null,null,"ITC Rate",null,{"$f":"E17","v":0.3}]
[null,null,"ITC Amount",null,{"$f":"E102*E103","v":300}]
[]
[null,null,"Pecent Paid by Investor",null,{"$f":"Summary!D8","v":0.9}]
[null,null,"ITC Realized",null,{"$f":"E104*E106","v":270}]
[]
[null,null,"Pre-tax Cash Unleverd Cash",null,{"$f":"E7","v":-1000},{"$f":"F7","v":65.051435080276605},65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605]
[null,null,"ITC Received",null,{"$f":"E107","v":270}]
[null,null,"Net Pre-tax Caah Flow",null,{"$f":"E109+E110","v":-730},{"$f":"F109+F110","v":65.051435080276605},65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605,65.051435080276605]
[]
[null,null,"IRR",null,{"$f":"IRR(E111:AI111)","v":8.0338831825426116E-2}]