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Shares outstanding 8,700,000 Share price $ 46.50 Purchase price of land $ 65,000,000 Perpetual earnings increase $ 14,000,000 Current cost of capital 12.50% Cost of

Shares outstanding	8,700,000
Share price	$ 46.50
Purchase price of land	$ 65,000,000
Perpetual earnings increase	$ 14,000,000
Current cost of capital	12.50%
Cost of new debt	8%
Optimal equity weight	70%
Optimal debt weight	30%
Tax rate	21%

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