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<p class=MsoNormal><span style='color:#1F497D'>I overlooked the fact that you
have two sections in the purchase worksheet – one for purchasing outright,
and one that assumes financing. It’s probably still a good idea to
incorporate “% Down Payment”. We’ll likely have to foot
some kind of a down payment even if we finance. Then we can tweak the %
down value and see the effect on monthly vs. one-time cost.<o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'>-Steve<o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p>
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<p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span
style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> Steve Gordon
[mailto:steve@media-phile.com] <br>
<b>Sent:</b> Tuesday, April 07, 2009 10:33 AM<br>
<b>To:</b> 'eefc-core@workingcode.com'<br>
<b>Subject:</b> RE: spreadsheet<o:p></o:p></span></p>
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<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal><span style='color:#1F497D'>Thanks Mike for the great
spreadsheet. I have two minor comments:<o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p>
<p class=MsoListParagraph style='text-indent:-.25in;mso-list:l0 level1 lfo2'><![if !supportLists]><span
style='color:#1F497D'><span style='mso-list:Ignore'>1.<span style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]><span style='color:#1F497D'>Tire replacement is
directly related to number of landings, which in turn is related (loosely) to
number of hours flown. We should probably include that as an operating cost
unless you think it’s covered by “Engine/Airframe
Maintenance” cost.<o:p></o:p></span></p>
<p class=MsoListParagraph style='text-indent:-.25in;mso-list:l0 level1 lfo2'><![if !supportLists]><span
style='color:#1F497D'><span style='mso-list:Ignore'>2.<span style='font:7.0pt "Times New Roman"'>
</span></span></span><![endif]><span style='color:#1F497D'>If we purchase a
plane, there will almost definitely be a required one-time cost. The
one-time cost can constitute either a minimum down-payment, payment in full, or
anything in between. It looks like the spreadsheet double-counts the cost
of the airplane. The price is listed both as a one-time cost per member
to buy the plane and also is included as a regular annual cost of the
note. It would probably be a good idea to separate those costs. You
could add a “% Down Payment” value which would drive the one-time
cost (perhaps defaulted to 20%), and then the remainder of the purchase price
would be amortized over the length of the loan and would be reflected in the note
cost.<o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'>Thanks,<o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'>-Steve<o:p></o:p></span></p>
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