BCWS Franchise Extension Proposal
			Extend Depreciation
			Present Value Analysis
		Change		Change		Change		Change		Total
		in Depr. Exp.		in Profit		in Interest. Exp.		in Profit		Cash Flow
		due to		due to		due to		due to		Effect of
		Extension of		Extension of		Extension of		Change in		Extension of
		Depreciable		Depreciable		Depreciable		Interest		Depreciable
Fiscal Year Ending:		Lives of Assets		Lives of Assets		Lives of Assets		Expense		Lives of Assets
June 30, 2004		$     (951,722)		$    (88,411)		$    (21,464)		$  (1,994)		$      (1,063,591)
June 30, 2005		(932,935)		(86,666)		(70,820)		(6,579)		(1,097,000)
June 30, 2006		(771,296)		(71,650)		58,127		5,400		(779,419)
June 30, 2007		(487,084)		(45,248)		80,472		7,476		(444,385)
June 29, 2008		(344,421)		(31,995)		146,850		13,642		(215,925)
June 30, 2009		(301,202)		(27,980)		(268,043)		(24,900)		(622,126)
June 30, 2010		(263,824)		(24,508)		(199,615)		(18,543)		(506,490)
June 30, 2011		(170,266)		(15,817)		(97,507)		(9,058)		(292,647)
Net Present Value at 5.86% Discount Rate										$      (4,124,526)
NPV to City of 2004-2011 Savings (50%)										(2,062,262.76)
June 29, 2012		(476,432)		(44,259)		407,894		37,892		(74,905)
June 30, 2013		(864,111)		(80,273)		487,436		45,281		(411,666)
June 30, 2014		(877,341)		(81,502)		461,939		42,912		(453,992)
June 30, 2015		(916,378)		(85,128)		386,664		35,920		(578,923)
June 29, 2016		(1,304,431)		(121,177)		(59,333)		(5,512)		(1,490,452)
June 30, 2017		(1,232,707)		(114,514)		(54,191)		(5,034)		(1,406,446)
June 30, 2018		(814,116)		(75,628)		50,319		4,674		(834,751)
Total 2004-2018		($10,708,265)		($994,757)		$1,308,728		$121,576		$    (10,272,718)
Net Present Value at 5.86% Discount Rate										$      (2,512,630)
NPV to City of 2012-2018 Savings (50%)										(1,256,315.08)
Net Present Value to City of Total Savings (@50%/50%)										(3,318,578)