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Tax Abatement Schedule prepared for: <br />PARRISH/MEYER MACHINE, INC. <br />South Bend German 5 Year Personal Property Abatement Schedule* <br />Total estimated Equipment Cost: $400,000 <br />Assume constant tax rate of: 5.1376 <br />Assume constant SRTC rate of: 7.0636 <br /> TN Assessed Gross Less Net Percent Tax <br />Year TTV% (Year 1-5) Value Tax SRTC Tax Abated Abated <br />1 40% 160,000 160,000 $8,220 581 $7,639 100% $7,639 <br />2 56% 224,000 224,000 $11,508 813 $10,695 80% $8,556 <br />3 42% 168,000 168,000 $8,631 610 $8,021 60% $4,813 <br />4 32% 128,000 128,000 $6,576 465 $6,111 40% $2,445 <br />5 24% 96,000 96,000 $4,932 348 $4,584 20% $917 <br /> $39,867 2,816 $37,051 $24,370 <br />Total Taxes Due During Abatement: $37,051 <br />Total Taxes Abated During Abatement: $24,370 <br />Total Taxes Paid During Abatement: $12,681 <br />10/13/2006 <br />Tax <br />Paid <br />$0 <br />$2,139 <br />$3,209 <br />$3,667 <br />$3,667 <br />$12,681 <br />' -This schedule is for estimation purposes only and assumes constant tax rates. <br />The true tax values will ulimately be determined by the actual <br />assessed valuation and the then current tax rates. <br />