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[null,null,null,null,"Main Menu"]
[null,null,null,null,null,null,null,null,null,null,"   Lease Analysis Program (LEAP)"]
[null,null,null,null,"Go to Location for input of data for analysis"]
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[null,null,null,null,"View analysis",null,null,null,null,null,"            Eddy L. LaDue and Jacob Schuelke"]
[null,null,null,null,null,null,null,null,null,"Updated by Jason Karszes and David Lawton, December 2014"]
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[null,null,null,null,"Obtain results of analysis"]
[null,null,null,null,null,null,null,null,null,null,null,"      Cornell University"]
[null,null,null,null,null,null,null,null,null,null,null,"         Version 2.2"]
[null,null,null,null,"Print input, analysis or results"]
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[null,null,null,null,"Clear program of data entered previously",null,null,null,null,null,"To get to the main menu at anytime press Ctrl+Shift+M"]
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[null,null,null,null,null,null,null,null,null,"To start, click on Input button and proceed to input section. Help buttons located throughout input section provides instructions about what information to enter in the different sections"]

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[null,null,null,null,null,"Input"]
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[null,null,null,null,"Go to top of Input Data sheet",null,null,null,null,null,"   Lease Analysis Program (LEAP)"]
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[null,null,null,null,"Go to Lease Payment section of Input Data sheet",null,null,null,null,null,null,null,"by"]
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[null,null,null,null,"Go to Purchase Data section of Input Data sheet",null,null,null,null,null,"            Eddy L. LaDue and Jacob Schuelke"]
[null,null,null,null,null,null,null,null,null,"Updated by Jason Karszes and David Lawton, December 2014"]
[null,null,null,null,"Go to Lease Terms section of Input Data sheet"]
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[null,null,null,null,"Go to Purchase Credit Terms section of Input Data sheet",null,null,null,null,null,null,"      Cornell University"]
[null,null,null,null,null,null,null,null,null,null,null,"         Version 2.2"]
[null,null,null,null,"Go to Tax Rates section of Input Data sheet"]
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[null,null,null,null,"Go to Cost of Capital section of Input Data sheet"]
[null,null,null,null,null,null,null,null,null,null,"To get to the main menu at anytime press Ctrl+Shift+M"]
[null,null,null,null,"Go to Section 179 section of Input Data sheet"]
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[null,null,null,null,"Go back to Main Menu"]

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[null,null,null,null,"View analysis which includes purchase of the asset at the end of the lease period as part of lease analysis."]
[null,null,null,null,null,null,null,null,null,null,"   Lease Analysis Program (LEAP)"]
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[null,null,null,null,"View analysis which includes sale of the asset at the end of the lease period as part of purchase analysis",null,null,null,null,"Updated by Jason Karszes and David Lawton, December 2014"]
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[null,null,null,null,null,null,null,null,null,null,null,"      Cornell University"]
[null,null,null,null,null,null,null,null,null,null,null,"         Version 2.2"]
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[null,null,null,null,"Return to main menu"]
[null,null,null,null,null,null,null,null,null,null,"To get to the main menu at anytime press Ctrl+Shift+M"]

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[null,null,null,null,null,"Results"]
[null,null,null,null,"View summarized results of buying the asset at the end of the lease period as part of lease analysis."]
[null,null,null,null,null,null,null,null,null,null,"   Lease Analysis Program (LEAP)"]
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[null,null,null,null,"View summarized results of buying the asset at the end of the lease period as part of purchase analysis.",null,null,null,null,"Updated by Jason Karszes and David Lawton, December 2014"]
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[null,null,null,null,null,null,null,null,null,null,null,"      Cornell University"]
[null,null,null,null,null,null,null,null,null,null,null,"         Version 2.2"]
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[null,null,null,null,null,null,null,null,null,null,"To get to the main menu at anytime press Ctrl+Shift+M"]

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[null,null,null,null,"Print calculations for selling asset at end of lease period as part of purchase analysis."]
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[null,null,null,null,null,null,null,null,null,"Updated by Jason Karszes and David Lawton, December 2014"]
[null,"Results",null,null,"Print a brief results for the analysis in which the asset is purchased at the endof the lease period."]
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[null,null,null,null,null,null,null,null,null,null,null,"      Cornell University"]
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[null,"Summary",null,null,"Print input data, analysis and results for the case in which the asset is purchased at the end of the lease period."]
[null,null,null,null,null,null,null,null,null,null,"To get to the main menu at anytime press Ctrl+Shift+M"]
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[null,null,null,null,"Print input data, analysis and results for the case in which the purchased asset is sold at end of the lease period."]
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[null,null,null,null,"Return to main menu"]

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[null,null,null,null,"Return to main menu"]
[null,null,null,null,null,null,null,null,null,null,"To get to the main menu at anytime press Ctrl+Shift+M"]

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[null,null,null,null,null,null,null,null,null,"Item",null,null,"Advance",1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,null,12,0.82,0.8,0.78,0.75,0.72,0.68,0.64,0.59,0.54,0.48,0.42,0.34,0.26,0.17,0.06,null,null,null,null,null,null,null,null,null,null,11,0.9,0.8,0.72,0.65,0.57999999999999996,0.53,0.48,0.43,0.39,0.35,0.32,0.28999999999999998,0.26,0.24,null,null,12,1.0662,0.56489999999999996,0.39860000000000001,0.316,0.26690000000000003,0.2346,0.21179999999999999,0.19500000000000001,12,0.1822,0.17219999999999999,0.1641,0.15759999999999999,0.1522,0.14779999999999999,0.14400000000000002,0.14080000000000001]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,13,0.85,0.83,0.8,0.78,0.74,0.71,0.67,0.62,0.56999999999999995,0.51,0.44,0.37,0.28000000000000003,0.18,7.0000000000000007E-2,null,null,null,null,null,null,null,null,null,null,12,0.89,0.79,0.7,0.62,0.56000000000000005,0.5,0.44,0.4,0.36,0.32,0.28999999999999998,0.26,0.23,0.21,null,null,12.5,1.069,0.56769999999999998,0.40139999999999998,0.31900000000000001,0.27,0.23769999999999999,0.21510000000000001,0.1983,12.5,0.18559999999999999,0.1757,0.16769999999999999,0.1613,0.156,0.15160000000000001,0.1479,0.14480000000000001]
[null,null,null,null,null,null,null,null,null,"a. Lease payment",null,null,{"$f":"DataInput!B6","v":0},{"$f":"DataInput!B7","v":0},{"$f":"DataInput!B8","v":0},{"$f":"DataInput!B9","v":0},{"$f":"DataInput!B10","v":0},{"$f":"DataInput!B11","v":0},{"$f":"DataInput!B12","v":0},{"$f":"DataInput!B13","v":0},{"$f":"DataInput!B14","v":0},{"$f":"DataInput!B15","v":0},{"$f":"DataInput!B16","v":0},{"$f":"DataInput!B17","v":0},{"$f":"DataInput!B18","v":0},{"$f":"DataInput!B19","v":0},{"$f":"DataInput!B20","v":0},{"$f":"DataInput!B21","v":0},null,14,0.87,0.85,0.83,0.8,0.77,0.73,0.7,0.65,0.6,0.54,0.47,0.39,0.3,0.19,7.0000000000000007E-2,null,null,null,null,null,null,null,null,null,null,13,0.88,0.77,0.68,0.6,0.53,0.47,0.41,0.37,0.33,0.28999999999999998,0.26,0.23,0.2,0.18,null,null,13,1.0718000000000001,0.57050000000000001,0.40429999999999999,0.32190000000000002,0.27300000000000002,0.2409,0.21829999999999999,0.20169999999999999,13,0.189,0.1792,0.17130000000000001,0.16500000000000001,0.15970000000000001,0.15540000000000001,0.15179999999999999,0.14879999999999999]
[null,null,null,null,null,null,null,null,null,"b. Costs saved (-), added (+)",null,null,{"$f":"DataInput!D6","v":0},{"$f":"DataInput!D7","v":0},{"$f":"DataInput!D8","v":0},{"$f":"DataInput!D9","v":0},{"$f":"DataInput!D10","v":0},{"$f":"DataInput!D11","v":0},{"$f":"DataInput!D12","v":0},{"$f":"DataInput!D13","v":0},{"$f":"DataInput!D14","v":0},{"$f":"DataInput!D15","v":0},{"$f":"DataInput!D16","v":0},{"$f":"DataInput!D17","v":0},{"$f":"DataInput!D18","v":0},{"$f":"DataInput!D19","v":0},{"$f":"DataInput!D20","v":0},{"$f":"DataInput!D21","v":0},null,15,0.89,0.87,0.85,0.82,0.79,0.76,0.72,0.67,0.62,0.56000000000000005,0.49,0.41,0.31,0.2,0.08,null,null,null,null,null,null,null,null,null,null,14,0.87,0.76,0.66,0.57999999999999996,0.51,0.44,0.39,0.34,0.3,0.26,0.23,0.2,0.18,0.16,null,null,13.5,1.0746,0.57330000000000003,0.40720000000000001,0.32490000000000002,0.27610000000000001,0.24410000000000001,0.22159999999999999,0.2051,13.5,0.1925,0.1827,0.17499999999999999,0.16869999999999999,0.1636,0.1593,0.15579999999999999,0.15279999999999999]
["Input Data for Lease Analysis",null,null,null,"Lease  Analyzed - - - -  ",null,{"$f":"DataInput!G1","v":0},null,null,"c. Net lease Costs",null,null,{"$f":"M18+M19","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,16,0.9,0.88,0.86,0.84,0.81,0.78,0.74,0.7,0.65,0.59,0.51,0.43,0.33,0.22,0.08,null,null,null,null,null,null,null,null,null,null,15,0.86,0.74,0.64,0.56000000000000005,0.48,0.42,0.36,0.32,0.27,0.24,0.21,0.18,0.16,0.14000000000000001,null,null,14,1.0773999999999999,0.57620000000000005,0.41010000000000002,0.32790000000000002,0.2792,0.24729999999999999,0.22489999999999999,0.20849999999999999,14,0.19600000000000001,0.18629999999999999,0.17860000000000001,0.17249999999999999,0.16739999999999999,0.1633,0.1598,0.15690000000000001]
[null,null,null,null,"Analysis conducted for:",null,{"$f":"DataInput!G2","v":0},null,null,"d. Tax rate (decimal form)",null,null,{"$f":"AO101/100","v":0},{"$f":"$AO$101/100","v":0},{"$f":"$AO$102/100","v":0},{"$f":"$AO$103/100","v":0},{"$f":"$AO$104/100","v":0},{"$f":"$AO$105/100","v":0},{"$f":"$AO$106/100","v":0},{"$f":"$AO$107/100","v":0},{"$f":"$AO$108/100","v":0},{"$f":"$AO$109/100","v":0},{"$f":"$AO$110/100","v":0},{"$f":"$AO$111/100","v":0},{"$f":"$AO$112/100","v":0},{"$f":"$AO$113/100","v":0},{"$f":"$AO$114/100","v":0},{"$f":"$AO$115/100","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,16,0.85,0.73,0.62,0.53,0.46,0.39,0.34,0.28999999999999998,0.25,0.22,0.19,0.16,0.14000000000000001,0.12,null,null,14.5,1.0803,0.57899999999999996,0.41310000000000002,0.33090000000000003,0.2823,0.2505,0.22819999999999999,0.21190000000000001,14.5,0.19950000000000001,0.18990000000000001,0.18240000000000001,0.17630000000000001,0.17130000000000001,0.16719999999999999,0.16389999999999999,0.161]
[null,null,null,null,null,null,null,null,null,"e. Tax benefit (c x d)",null,null,{"$f":"M20*M21","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,null,null,null,"This table can be used for any loan with a term of one to fifteen years.  Use the last \"x\" columns",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,17,0.84,0.71,0.61,0.51,0.44,0.37,0.32,0.27,0.23,0.2,0.17,0.15,0.13,0.11,null,null,15,1.0831,0.58179999999999998,0.41600000000000004,0.33400000000000002,0.28550000000000003,0.25369999999999998,0.2316,0.21529999999999999,15,0.2031,0.19359999999999999,0.18609999999999999,0.18010000000000001,0.17519999999999999,0.17119999999999999,0.16800000000000001,0.16520000000000001]
[null,"Lease",null,"Costs saved or added",null,null,"Other Ownership costs",null,null,"f.  Net after tax cost (c - e)",null,null,{"$f":"M20-M22","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,null,null,null,"of the table, where \"x\" is the term of the loan in years.  For example, if a four year loan",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,18,0.84,0.7,0.59,0.49,0.42,0.35,0.3,0.25,0.21,0.18,0.15,0.13,0.11,0.09]
["Year","Payment",null,"due to the lease",null,null,"due to purchase",null,null,"g.  Refundable deposit",null,null,{"$f":"G57","v":0},{"$f":"IF(AND($G$54<=N16+0.005,$G$54>=N16-0.005),-$G$57,0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,null,null,null,"with a ten percent interest is being used, use the last four columns of the 10 percent row, i.e. in",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,19,0.83,0.69,0.56999999999999995,0.47,0.4,0.33,0.28000000000000003,0.23,0.19,0.16,0.14000000000000001,0.12,0.1,0.08,null,null,null,null,null,null,null,null,null,null,null,null,"Total payment for a year are obtained by multiplying the table value by the loan amount."]
["    advance",{"$f":"DataInput!B6","v":0},null,{"$f":"DataInput!D6","v":0},null,null,{"$f":"DataInput!G6","v":0},null,null,"h.  Total costs (f + g)",null,null,{"$f":"M23+M24","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,null,null,null,"year 1, 0.30 of the payments made will be interest; in year 2, 0.22 of the payments will be interest,",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,20,0.82,0.67,0.55000000000000004,0.46,0.38,0.31,0.26,0.21,0.18,0.15,0.12,0.1,0.09,7.0000000000000007E-2,null,null,null,null,null,null,null,null,null,null,null,null,"For example, if the loan amount for a four year loan at 10 percent interest is $100,000,"]
[1,{"$f":"DataInput!B7","v":0},null,{"$f":"DataInput!D7","v":0},null,null,{"$f":"DataInput!G7","v":0},null,null,"i. P.V. factor (after tax - Table 3)",null,null,1,{"$f":"$AQ$124","v":1},{"$f":"$AQ$125","v":1.01},{"$f":"$AQ$126","v":1},{"$f":"$AQ$127","v":1},{"$f":"$AQ$128","v":1},{"$f":"$AQ$129","v":1},{"$f":"$AQ$130","v":1},{"$f":"$AQ$131","v":1},{"$f":"$AQ$132","v":1},{"$f":"$AQ$133","v":1},{"$f":"$AQ$134","v":1},{"$f":"$AQ$135","v":1},{"$f":"$AQ$136","v":1},{"$f":"$AQ$137","v":1},{"$f":"$AQ$138","v":1},null,null,null,null,null,null,null,"in year 3, 0.14 of the payments will be interest and in the last year .05 percent will be interest.",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"the payments for a year are calculated as .3044 times 100,000, which equals $30,440."]
[2,{"$f":"DataInput!B8","v":0},null,{"$f":"DataInput!D8","v":0},null,null,{"$f":"DataInput!G8","v":0},null,null,"j.  Net present value",null,null,{"$f":"M25*M26","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[3,{"$f":"DataInput!B9","v":0},null,{"$f":"DataInput!D9","v":0},null,null,{"$f":"DataInput!G9","v":0},null,null,"k. Total net present value of all costs",null,null,null,null,{"$f":"SUM(M27:AB27)","v":0}]
[4,{"$f":"DataInput!B10","v":0},null,{"$f":"DataInput!D10","v":0},null,null,{"$f":"DataInput!G10","v":0}]
[5,{"$f":"DataInput!B11","v":0},null,{"$f":"DataInput!D11","v":0},null,null,{"$f":"DataInput!G11","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Table 4b.  Annual Payments Required to Amortize $1 "]
[6,{"$f":"DataInput!B12","v":0},null,{"$f":"DataInput!D12","v":0},null,null,{"$f":"DataInput!G12","v":0},null,null," "," ",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"            Even Payments, Principal and Interest"]
[7,{"$f":"DataInput!B13","v":0},null,{"$f":"DataInput!D13","v":0},null,null,{"$f":"DataInput!G13","v":0}]
[8,{"$f":"DataInput!B14","v":0},null,{"$f":"DataInput!D14","v":0},null,null,{"$f":"DataInput!G14","v":0},null,null,null,null,"PURCHASE WITH FINANCING ANALYSIS (TABLE D)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Interest",null,null,"Repayment Period (years)",null,null,null,null,null,"Interest",null,null,"Repayment Period (years)"]
[9,{"$f":"DataInput!B15","v":0},null,{"$f":"DataInput!D15","v":0},null,null,{"$f":"DataInput!G15","v":0},null,null,null,null,null,null,null,null,null,"Year",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Rate",1,2,3,4,5,6,7,8,"Rate",9,10,11,12,13,14,15,16]
[10,{"$f":"DataInput!B16","v":0},null,{"$f":"DataInput!D16","v":0},null,null,{"$f":"DataInput!G16","v":0},null,null,"Item",null,null,"Down pmt.",1,2,3,4,5,6,7,8,9,10,11,12,13,14,15]
[11,{"$f":"DataInput!B17","v":0},null,{"$f":"DataInput!D17","v":0},null,null,{"$f":"DataInput!G17","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,7.5,1.075,0.55689999999999995,0.38450000000000001,0.29859999999999998,0.2472,0.21299999999999999,0.1888,0.17069999999999999,7.5,0.15679999999999999,0.1457,0.13669999999999999,0.1293,0.1231,0.1178,0.1133,0.1094]
[12,{"$f":"DataInput!B18","v":0},null,{"$f":"DataInput!D18","v":0},null,null,{"$f":"DataInput!G18","v":0},null,null,"a. Loan payment (table 4 x cost)",null,null,{"$f":"DataInput!E26","v":0},{"$f":"IF(N35<=MINA($G$70,$BK$151),(IF($D$76<>0,(PMT($BK$152/100/$BK$153,$BK$151*$BK$153,-($E$46-$E$45))*$BK$153),AU173*($E$46-$E$45))),0)","v":0},{"$f":"IF(O35<=MINA($G$70,$BK$151),(IF($D$76<>0,(PMT($BK$152/100/$BK$153,$BK$151*$BK$153,-($E$46-$E$45))*$BK$153),AV173*($E$46-$E$45))),0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,8,1.08,0.56079999999999997,0.38800000000000001,0.3019,0.2505,0.21629999999999999,0.19209999999999999,0.17400000000000002,8,0.16009999999999999,0.14899999999999999,0.1401,0.13270000000000001,0.1265,0.12130000000000001,0.1168,0.113]
[13,{"$f":"DataInput!B19","v":0},null,{"$f":"DataInput!D19","v":0},null,null,{"$f":"DataInput!G19","v":0},null,null,"b. Interest proportion (Table 1)",null,null,null,{"$f":"IF($BK$151<N35,0,IF($D$76<>0,(IF($BK$153<1.5,HLOOKUP(15-$BK$151+1,$AE$45:$AS$58,$AC$38-3+1),HLOOKUP(15-$BK$151+1,$AE$7:$AS$20,$AC$38-3+1))),AU174))","v":0},{"$f":"IF($BK$151<O35,0,IF($D$76<>0,(IF($BK$153<1.5,HLOOKUP(15+N35-$BK$151+1,$AE$45:$AS$58,$AC$38-3+1),HLOOKUP(15+N35-$BK$151+1,$AE$7:$AS$20,$AC$38-3+1))),AV174))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"IF(BK152<4,4,IF(BK152>16,16,BK152))","v":4},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,8.5,1.085,0.56459999999999999,0.39150000000000001,0.30530000000000002,0.25380000000000003,0.21959999999999999,0.19539999999999999,0.17730000000000001,8.5,0.16339999999999999,0.15240000000000001,0.14350000000000002,0.13619999999999999,0.13,0.12479999999999999,0.12039999999999999,0.1166]
[14,{"$f":"DataInput!B20","v":0},null,{"$f":"DataInput!D20","v":0},null,null,{"$f":"DataInput!G20","v":0},null,null,"c. Interest (a x b)",null,null,null,{"$f":"TRUNC(ROUND(+N37*N38,0))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,9,1.0900000000000001,0.56850000000000001,0.39510000000000001,0.30869999999999997,0.2571,0.22289999999999999,0.19869999999999999,0.1807,9,0.1668,0.15579999999999999,0.1469,0.13969999999999999,0.1336,0.12839999999999999,0.1241,0.1203]
[15,{"$f":"DataInput!B21","v":0},null,{"$f":"DataInput!D21","v":0},null,null,{"$f":"DataInput!G21","v":0},null,null,"d. Depreciation (Table 2 x cost)",null,null,null,{"$f":"IF(N35<=MINA($G$70,$BK$151),(HLOOKUP($E$43,$BE$43:$BJ$58,N35+1)/100*MAXA($E$46-$H$44,0))+MINA(IF($H$44>0,$H$44,0),$E$46),0)","v":0},{"$f":"IF(O35<=MINA($G$70,$BK$151),HLOOKUP($E$43,$BE$43:$BJ$58,O35+1)/100*MAXA($E$46-$H$44,0),0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,"Table 1b.   Proportion of Total Annual Payments that are Interest",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Table 2.  Annual Depreciation (Percent of Orginal Cost Basis)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,9.5,1.095,0.57230000000000003,0.39860000000000001,0.31209999999999999,0.26040000000000002,0.2263,0.20200000000000001,0.184,9.5,0.17019999999999999,0.1593,0.15040000000000001,0.14319999999999999,0.13719999999999999,0.1321,0.12770000000000001,0.124]
[null,null,null,null,null,null,null,null,null,"e. Other Ownership costs",null,null,{"$f":"G25","v":0},{"$f":"G26","v":0},{"$f":"G27","v":0},{"$f":"G28","v":0},{"$f":"G29","v":0},{"$f":"G30","v":0},{"$f":"G31","v":0},{"$f":"G32","v":0},{"$f":"G33","v":0},{"$f":"G34","v":0},{"$f":"G35","v":0},{"$f":"G36","v":0},{"$f":"G37","v":0},{"$f":"G38","v":0},{"$f":"G39","v":0},{"$f":"G40","v":0},null,null,null,null,"   when Payments are Annual",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"150 % Declining Balance Method",null,null,null,null,null,null,null,null,null,null,null,null,null,null,10,1.1000000000000001,0.57620000000000005,0.40210000000000001,0.3155,0.26379999999999998,0.2296,0.2054,0.18740000000000001,10,0.1736,0.16270000000000001,0.154,0.14680000000000001,0.14080000000000001,0.13569999999999999,0.13150000000000001,0.1278]
["Purchase data",null,null,{"$f":"IF(T172<>1,\"Inappropriate depreciation period entered\",\" \")","v":"Inappropriate depreciation period entered"},null,null,null,null,null,"f. Dedutcitle ownership cost (c+d+e)",null,null,{"$f":"TRUNC(ROUND(+M39+M40+M41,0))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Recovery",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,10.5,1.105,0.58009999999999995,0.40570000000000001,0.31890000000000002,0.26719999999999999,0.23300000000000001,0.20880000000000001,0.19089999999999999,10.5,0.17710000000000001,0.1663,0.1575,0.15040000000000001,0.1444,0.13950000000000001,0.13519999999999999,0.13159999999999999]
["Depreciation period (years) - - - - - - - - - - - - - -",null,null,null,{"$f":"DataInput!E24","v":0},"   Section 179 expense deduction",null,null,null,"g.  Residual value",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Interest","15th","14th","13th","12th","11th","10th","9th","8th","7th","6th","5th","4th","3rd","2nd",null,null,null,null,null,null,null,null,null,null,null,"year",3,5,7,10,15,20,null,null,null,null,null,null,null,null,null,null,11,1.1100000000000001,0.58389999999999997,0.40920000000000001,0.32229999999999998,0.27060000000000001,0.2364,0.2122,0.1943,11,0.18060000000000001,0.16980000000000001,0.16109999999999999,0.154,0.1482,0.14319999999999999,0.1391,0.13550000000000001]
[null,null,null,null,null,"        taken on purchase",null,{"$f":"DataInput!H25","v":0},null,null,"Total",null,null,{"$f":"IF($G$70=N35,$G$71,0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,"Rate","to last","to last","to last","to last","to last","to last","to last","to last","to last","to last","to last","to last","to last","to last","last year",null,null,null,null,null,null,null,null,null,null,1,25,15,10.71,7.5,5,3.75,null,null,null,null,null,null,null,null,null,null,11.5,1.115,0.58779999999999999,0.4128,0.32579999999999998,0.27400000000000002,0.23980000000000001,0.2157,0.1978,11.5,0.18410000000000001,0.1734,0.1648,0.15770000000000001,0.15190000000000001,0.14699999999999999,0.1429,0.1394]
["Down payment on loan for purchase option - - - -",null,null,null,{"$f":"DataInput!E26","v":0},null,null,null,null,"h.","Undepreciated balance",null,null,{"$f":"IF($G$70=N35,$E$46-SUM($N$40:$AB$40),0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,null,null,null,null,null,null,null,null,null,null,2,37.5,25.5,19.13,13.88,9.5,7.22,null,null,null,null,null,null,null,null,null,null,12,1.1200000000000001,0.5917,0.4163,0.32919999999999999,0.27739999999999998,0.2432,0.21909999999999999,0.20130000000000001,12,0.18770000000000001,0.17699999999999999,0.16839999999999999,0.16139999999999999,0.15570000000000001,0.15090000000000001,0.14680000000000001,0.1434]
["Purchase cost of asset (including down payment)",null,null,null,{"$f":"DataInput!E27","v":0},{"$f":"IF(E45>E46,\"Down payment exceeds purchase price\",\"  \")","v":"  "},null,null,null,"i.","Taxable income",null,null,{"$f":"N44-N45","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,4,0.44,0.42,0.4,0.38,0.35,0.32,0.3,0.27,0.24,0.21,0.18,0.15,0.11,0.08,0.04,null,null,null,null,null,null,null,null,null,null,3,25,17.850000000000001,15.03,11.79,8.5500000000000007,6.68,null,null,null,null,null,null,null,null,null,null,12.5,1.125,0.59560000000000002,0.4199,0.3327,0.28089999999999998,0.2467,0.22259999999999999,0.20480000000000001,12.5,0.1913,0.18060000000000001,0.1721,0.16520000000000001,0.1595,0.15479999999999999,0.15079999999999999,0.1474]
[null,{"$f":"IF(E46=0,\"Analysis can not be made unless a purchase option is included.\",\" \")","v":"Analysis can not be made unless a purchase option is included."},null,null,null,null,null,null,null,"j.","Unpaid loan pricipal",null,null,{"$f":"IF($G$70=N35,IF($BK$151>$G$70,IF($D476<>0,($E$46-$E$45-(SUM($N$37:$AB$37)-SUM($N$39:$AB$39))),AU175*($E$46-$E$45)),0),0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,5,0.52,0.49,0.47,0.44,0.42,0.39,0.36,0.32,0.28999999999999998,0.25,0.23,0.18,0.14000000000000001,0.09,0.05,null,null,null,null,null,null,null,null,null,null,4,12.5,16.66,12.25,10.02,7.69,6.18,null,null,null,null,null,null,null,null,null,null,13,1.1299999999999999,0.59950000000000003,0.42349999999999999,0.3362,0.2843,0.25019999999999998,0.2261,0.2084,13,0.19489999999999999,0.18429999999999999,0.17580000000000001,0.16900000000000001,0.16339999999999999,0.15870000000000001,0.1547,0.15140000000000001]
["Terminal value of the asset at the end of analysis period - - -",null,null,null,null,{"$f":"DataInput!F29","v":0},null,null,null,"k. Net tax deductible costs (f - i)",null,null,{"$f":"M42-M46","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,6,0.57999999999999996,0.56000000000000005,0.53,0.5,0.47,0.44,0.41,0.37,0.33,0.3,0.25,0.21,0.16,0.11,0.06,null,null,null,null,null,null,null,null,null,null,5,null,16.66,12.25,8.74,6.93,5.71,null,null,null,null,null,null,null,null,null,null,13.5,1.135,0.60340000000000005,0.42709999999999998,0.3397,0.2878,0.25359999999999999,0.2296,0.21199999999999999,13.5,0.19850000000000001,0.188,0.17960000000000001,0.17280000000000001,0.16719999999999999,0.16259999999999999,0.1588,0.1555]
[null,null,null,{"$f":"IF(F48>E46,\"Terminal value exceeds purchase cost\",\" \")","v":" "},null,null,null,null,null,"l. Tax rate (decimal form)",null,null,{"$f":"N49","v":0},{"$f":"$AO$101/100","v":0},{"$f":"$AO$102/100","v":0},{"$f":"$AO$103/100","v":0},{"$f":"$AO$104/100","v":0},{"$f":"$AO$105/100","v":0},{"$f":"$AO$106/100","v":0},{"$f":"$AO$107/100","v":0},{"$f":"$AO$108/100","v":0},{"$f":"$AO$109/100","v":0},{"$f":"$AO$110/100","v":0},{"$f":"$AO$111/100","v":0},{"$f":"$AO$112/100","v":0},{"$f":"$AO$113/100","v":0},{"$f":"$AO$114/100","v":0},{"$f":"$AO$115/100","v":0},null,7,0.64,0.61,0.57999999999999996,0.56000000000000005,0.52,0.49,0.46,0.42,0.38,0.33,0.28999999999999998,0.24,0.18,0.13,7.0000000000000007E-2,null,null,null,null,null,null,null,null,null,null,6,null,8.33,12.25,8.74,6.23,5.28,null,null,null,null,null,null,null,null,null,null,14,1.1399999999999999,0.60729999999999995,0.43070000000000003,0.34320000000000001,0.2913,0.25719999999999998,0.23319999999999999,0.21560000000000001,14,0.20219999999999999,0.19170000000000001,0.18340000000000001,0.1767,0.17119999999999999,0.1666,0.1628,0.15959999999999999]
["Investment tax credit with purchase - - - - - - - - -",null,null,null,{"$f":"DataInput!E31","v":0},null,null,null,null,"m Tax benefit (k x l)",null,null,{"$f":"TRUNC(ROUND(+M48*M49,0))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,8,0.68,0.66,0.63,0.6,0.56999999999999995,0.54,0.5,0.46,0.42,0.37,0.32,0.26,0.21,0.14000000000000001,7.0000000000000007E-2,null,null,null,null,null,null,null,null,null,null,7,null,null,12.25,8.74,5.9,4.8899999999999997,null,null,null,null,null,null,null,null,null,null,14.5,1.145,0.61119999999999997,0.43430000000000002,0.34670000000000001,0.29480000000000001,0.26069999999999999,0.23680000000000001,0.21920000000000001,14.5,0.2059,0.19550000000000001,0.18720000000000001,0.18060000000000001,0.17510000000000001,0.1706,0.16689999999999999,0.1638]
[null,null,null,null,{"$f":"IF(E50>(E46*0.04),\"Investment tax credit exceeds 4% of purchase cost\",\" \")","v":" "},null,null,null,null,"n. Net after tax cost (a+e-g+j-m)",null,null,{"$f":"M37+M41-M44+M47-M50","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,9,0.73,0.7,0.67,0.64,0.61,0.57999999999999996,0.54,0.5,0.45,0.4,0.35,0.28999999999999998,0.23,0.16,0.08,null,null,null,null,null,null,null,null,null,null,8,null,null,6.13,8.74,5.9,4.5199999999999996,null,null,null,null,null,null,null,null,null,null,15,1.1499999999999999,0.61509999999999998,0.438,0.3503,0.29830000000000001,0.26419999999999999,0.2404,0.22289999999999999,15,0.20960000000000001,0.1993,0.19109999999999999,0.1845,0.17910000000000001,0.17469999999999999,0.17100000000000001,0.16789999999999999]
["Lease terms",null,null,null,null,null,null,null,null,"o.  Investment tax credit",null,null,null,{"$f":"E50","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,10,0.76,0.74,0.71,0.68,0.65,0.61,0.57999999999999996,0.53,0.49,0.44,0.38,0.32,0.25,0.17,0.09,null,null,null,null,null,null,null,null,null,null,9,null,null,null,8.74,5.9,4.46]
[null,{"$f":"IF(G55>15,\"Number of years analyzed cannot exceed 15\",\" \")","v":" "},null,null,null,{"$f":"IF(G54>15,\"Term of lease cannot exceed 15 years\",\" \")","v":" "},null,null,null,"p. Investment credit recapture",null,null,null,0,{"$f":"IF($G$70=O35,IF($E$43<=3,1/3*$N$52,3/5*$N$52),0)","v":0},{"$f":"IF($G$70=P35,IF($E$43<=3,0,2/5*$N$52),0)","v":0},{"$f":"IF($G$70=Q35,IF($E$43<=3,0,1/5*$N$52),0)","v":0},0,null,null,null,null,null,null,null,null,null,null,null,11,0.79,0.77,0.74,0.71,0.68,0.65,0.61,0.56999999999999995,0.52,0.47,0.41,0.34,0.27,0.19,0.1,null,null,null,null,null,null,null,null,null,null,10,null,null,null,8.74,5.9,4.46,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Total payment for a year are obtained by multiplying the table value by the loan amount."]
[null,"Term of the lease (years) - - - - - - - - - - - - - - - - - - - - - - - -",null,null,null,null,{"$f":"DataInput!G35","v":0},null,null,"q.  Total cost (n-o+p)",null,null,{"$f":"M51-M52+M53","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,12,0.82,0.8,0.77,0.74,0.71,0.68,0.64,0.6,0.55000000000000004,0.49,0.43,0.36,0.28999999999999998,0.2,0.11,null,null,null,null,null,null,null,null,null,null,11,null,null,null,4.37,5.9,4.46,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"For example, if the loan amount for a four year loan at 10 percent interest is $100,000,"]
[null,"Number of years to be analyzed - - - - - - - - - - - - - - - - - - -",null,null,null,null,{"$f":"DataInput!G36","v":0},null,null,"r. P.V. Factor (after tax - Table 3)",null,null,1,{"$f":"$AQ$124","v":1},{"$f":"$AQ$125","v":1.01},{"$f":"$AQ$126","v":1},{"$f":"$AQ$127","v":1},{"$f":"$AQ$128","v":1},{"$f":"$AQ$129","v":1},{"$f":"$AQ$130","v":1},{"$f":"$AQ$131","v":1},{"$f":"$AQ$132","v":1},{"$f":"$AQ$133","v":1},{"$f":"$AQ$134","v":1},{"$f":"$AQ$135","v":1},{"$f":"$AQ$136","v":1},{"$f":"$AQ$137","v":1},{"$f":"$AQ$138","v":1},null,13,0.84,0.82,0.8,0.77,0.74,0.71,0.67,0.62,0.56999999999999995,0.52,0.46,0.39,0.31,0.22,0.12,null,null,null,null,null,null,null,null,null,null,12,null,null,null,null,5.9,4.46,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"the payments for a year are calculated as .3155 times 100,000, which equals $31,550."]
[null,"Residual value of the asset at the end of the lease period - - -",null,null,null,null,{"$f":"DataInput!G37","v":0},null,null,"s.  Net present value (q x r)",null,null,{"$f":"TRUNC(ROUND(M54*M55,0))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,14,0.86,0.84,0.82,0.79,0.76,0.73,0.69,0.65,0.6,0.54,0.48,0.41,0.33,0.23,0.12,null,null,null,null,null,null,null,null,null,null,13,null,null,null,null,5.9,4.46]
[null,"Refundable deposit required with lease - - - - - - - - - -",null,null,null,"- - - - - - - -",{"$f":"DataInput!G38","v":0},{"$f":"IF(G56>E46,\"residual value exceeds\",\" \")","v":" "},null,"t.  Total net present value of costs",null,null,null,null,{"$f":"SUM(M56:AB56)","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,15,0.88,0.86,0.84,0.81,0.79,0.75,0.72,0.67,0.62,0.56999999999999995,0.5,0.43,0.34,0.24,0.13,null,null,null,null,null,null,null,null,null,null,14,null,null,null,null,5.9,4.46]
[null,null,null,null,null,null,null,null,{"$f":"IF(G56>E46,\"purchase cost\",\" \")","v":" "},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,16,0.89,0.87,0.85,0.83,0.8,0.77,0.74,0.69,0.65,0.59,0.52,0.45,0.36,0.26,0.14000000000000001,null,null,null,null,null,null,null,null,null,null,15,null,null,null,null,5.9,4.46]
["If the analysis is to assume purchase of  leased asset at the end of the lease period",null,null,null,null,null,null," (BUY)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2.95,4.46]
[null,"Credit terms for purchase at end of the lease:",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"This table can be used for any loan with a term of one to fifteen years.  Use the last \"x\" columns",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,4.46]
[null,"    Term (years)",null,null,{"$f":"DataInput!E42","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"of the table, where \"x\" is the term of the loan in years.  For example, if a four year loan",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,4.46]
[null,"    Interest rate (percent)",null,null,{"$f":"DataInput!E43","v":0},{"$f":"IF(E61>0,IF(OR(E62<4,E62>16),\"Interest deductibility not correctly handled for rates below 4% or above 16%\",\"  \"),\" \")","v":" "},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"with a ten percent interest is being used, use the last four columns of the 10 percent row, i.e. in",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,4.46]
[null,"    Payment per year",null,null,{"$f":"DataInput!E44","v":0},{"$f":"IF(E61>0,IF(OR(E63=1,E63=12),\"   \",\"Payments per year must be 1 or 12\"),\" \")","v":" "},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"year 1, 0.32 of the payments made will be interest; in year 2, 0.25 of the payments will be interest,",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,4.46]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"in year 3, 0.17 of the payments will be interest and in the last year .09 percent will be interest.",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2.2400000000000002]
[null,"Investment tax credit on purchase at end of lease period",null,null,null,null,{"$f":"DataInput!G46","v":0},{"$f":"IF(G65>(G56*0.04),\"Investment tax credit exceeds 4% of residual value\",\" \")","v":" "}]
[null,"Section 179 expense deduction with purchase at end of lease period",null,null,null,null,null,{"$f":"DataInput!H47","v":0}]
[]
["If the analysis is to assume sale of the purchased asset at the end of the lease period",null,null,null,null,null,null,"(SELL)"]
[]
[null,"Term of the lease (number of years) - - - - - - - - - - - - - - - -",null,null,null,null,{"$f":"DataInput!G51","v":0}]
[null,"Residual value of the asset at the end of the lease period - - - ",null,null,null,null,{"$f":"DataInput!G52","v":0},null,null,"Lease cost analysis - with purchase of the leased asset at the end of the lease"]
[null,null,null,null,{"$f":"IF(G71>E46,\"Residual value exceeds the purchase cost\",\"   \")","v":"   "},null,null,null,null,"(Purchase of the asset at the end of the lease period is part of lease analysis)"]
["Credit terms if the asset is purchased:",null,null,{"$f":"IF(D74=0,\"credit terms for the purchase option must be entered\",\" \")","v":"credit terms for the purchase option must be entered"}]
[null,"Term (years)",null,{"$f":"DataInput!D55","v":0},{"$f":"IF(AND(D74>15,D76<>0),\"15 years is the maximum acceptable for fixed rate loans\",\"   \")","v":"   "}]
[null,"Payments per year",null,{"$f":"DataInput!D56","v":0},{"$f":"IF(OR(D75=1,D75=12),\"   \",\"Payments per year must be 1 or 12\")","v":"Payments per year must be 1 or 12"},null,null,null,null,null,null,"LEASE COST ANALYSIS (TABLE  A)"]
[null,"Interest rate (if fixed)",null,{"$f":"DataInput!D57","v":0},{"$f":"IF(AND(D76<>0,E78<>0),\"Both fixed and variable rates have been entered, fixed is used\",\"   \")","v":"   "},null,null,null,null,null,null,null,null,null,null,null,"Year"]
[null,"Expected interest rate (if variable)",null,null,"Years at these rates",null,null,null,null,"Item",null,null,"Advance",1,2,3,4,5,6,7,8,9,10,11,12,13,14,15]
[1,null,{"$f":"IF(E78=0,\"\",DataInput!C59)","v":""},null,{"$f":"DataInput!E59","v":0},{"$f":"IF(OR(D76>16,C78>16,C79>16,C80>16,C81>16,C82>16,C83>16,C84>16),\"Interest deductibility is not correctly handled rates above 16%\",\"  \")","v":"  "}]
[2,null,{"$f":"IF(E79=0,\"\",DataInput!C60)","v":""},null,{"$f":"DataInput!E60","v":0},{"$f":"IF(AND(SUM(E78:E84)<MIN(D74,15),D76=0),\"Number of years of interest rates must equal \",\"   \")","v":"   "},null,null,null,"a. Lease payment",null,null,{"$f":"B25","v":0},{"$f":"B26","v":0},{"$f":"B27","v":0},{"$f":"B28","v":0},{"$f":"B29","v":0},{"$f":"B30","v":0},{"$f":"B31","v":0},{"$f":"B32","v":0},{"$f":"B33","v":0},{"$f":"B34","v":0},{"$f":"B35","v":0},{"$f":"B36","v":0},{"$f":"B37","v":0},{"$f":"B38","v":0},{"$f":"B39","v":0},{"$f":"B40","v":0}]
[3,null,{"$f":"IF(E80=0,\"\",DataInput!C61)","v":""},null,{"$f":"DataInput!E61","v":0},{"$f":"IF(AND(SUM(E78:E84)<MIN(D74,15),D76=0),\"or exceed  the term of the loan or 15\",\"   \")","v":"   "},null,null,null,"b. Costs saved (-), added (+)",null,null,{"$f":"D25","v":0},{"$f":"D26","v":0},{"$f":"D27","v":0},{"$f":"D28","v":0},{"$f":"D29","v":0},{"$f":"D30","v":0},{"$f":"D31","v":0},{"$f":"D32","v":0},{"$f":"D33","v":0},{"$f":"D34","v":0},{"$f":"D35","v":0},{"$f":"D36","v":0},{"$f":"D37","v":0},{"$f":"D38","v":0},{"$f":"D39","v":0},{"$f":"D40","v":0}]
[4,null,{"$f":"IF(E81=0,\"\",DataInput!C62)","v":""},null,{"$f":"DataInput!E62","v":0},null,null,null,null,"c. Net lease costs",null,null,{"$f":"M79+M80","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[5,null,{"$f":"IF(E82=0,\"\",DataInput!C63)","v":""},null,{"$f":"DataInput!E63","v":0},null,null,null,null,"d. Loan payment on residual",null,null,{"$f":"IF(AND($G$54=M77,$E$61=0),$G$56,TRUNC(ROUND(IF(AND(M77>$G$54,M77<=MINA($G$55,$E$61+$G$54)),(PMT($E$62/100/$E$63,$E$61*$E$63,-$G$56)*$E$63),0),0)))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[6,null,{"$f":"IF(E83=0,\"\",DataInput!C64)","v":""},null,{"$f":"DataInput!E64","v":0},null,null,null,null,"e. Interest proportion (Table 1)",null,null,{"$f":"IF(AND($G$54=M77,$E$61=0),0,IF(M82<=0,0,IF($E$63<1.5,HLOOKUP(14-$G$54-$E$61+1,$AE$45:$AS$58,$AC$85-3+1),HLOOKUP(14-$G$54-$E$61+1,$AE$7:$AS$20,$AC$85-3+1))))","v":0},{"$f":"IF(AND($G$54=N77,$E$61=0),0,IF(N82<=0,0,IF($E$63<1.5,HLOOKUP(15-$G$54-$E$61+1,$AE$45:$AS$58,$AC$85-3+1),HLOOKUP(15-$G$54-$E$61+1,$AE$7:$AS$20,$AC$85-3+1))))","v":0},{"$f":"IF(AND($G$54=O77,$E$61=0),0,IF(O82<=0,0,IF($E$63<1.5,HLOOKUP(16-$G$54-$E$61+1,$AE$45:$AS$58,$AC$85-3+1),HLOOKUP(16-$G$54-$E$61+1,$AE$7:$AS$20,$AC$85-3+1))))","v":0},{"$f":"IF(AND($G$54=P77,$E$61=0),0,IF(P82<=0,0,IF($E$63<1.5,HLOOKUP(17-$G$54-$E$61+1,$AE$45:$AS$58,$AC$85-3+1),HLOOKUP(17-$G$54-$E$61+1,$AE$7:$AS$20,$AC$85-3+1))))","v":0},{"$f":"IF(AND($G$54=Q77,$E$61=0),0,IF(Q82<=0,0,IF($E$63<1.5,HLOOKUP(18-$G$54-$E$61+1,$AE$45:$AS$58,$AC$85-3+1),HLOOKUP(18-$G$54-$E$61+1,$AE$7:$AS$20,$AC$85-3+1))))","v":0},{"$f":"IF(AND($G$54=R77,$E$61=0),0,IF(R82<=0,0,IF($E$63<1.5,HLOOKUP(19-$G$54-$E$61+1,$AE$45:$AS$58,$AC$85-3+1),HLOOKUP(19-$G$54-$E$61+1,$AE$7:$AS$20,$AC$85-3+1))))","v":0},{"$f":"IF(AND($G$54=S77,$E$61=0),0,IF(S82<=0,0,IF($E$63<1.5,HLOOKUP(20-$G$54-$E$61+1,$AE$45:$AS$58,$AC$85-3+1),HLOOKUP(20-$G$54-$E$61+1,$AE$7:$AS$20,$AC$85-3+1))))","v":0},{"$f":"IF(AND($G$54=T77,$E$61=0),0,IF(T82<=0,0,IF($E$63<1.5,HLOOKUP(21-$G$54-$E$61+1,$AE$45:$AS$58,$AC$85-3+1),HLOOKUP(21-$G$54-$E$61+1,$AE$7:$AS$20,$AC$85-3+1))))","v":0},{"$f":"IF(AND($G$54=U77,$E$61=0),0,IF(U82<=0,0,IF($E$63<1.5,HLOOKUP(22-$G$54-$E$61+1,$AE$45:$AS$58,$AC$85-3+1),HLOOKUP(22-$G$54-$E$61+1,$AE$7:$AS$20,$AC$85-3+1))))","v":0},{"$f":"IF(AND($G$54=V77,$E$61=0),0,IF(V82<=0,0,IF($E$63<1.5,HLOOKUP(23-$G$54-$E$61+1,$AE$45:$AS$58,$AC$85-3+1),HLOOKUP(23-$G$54-$E$61+1,$AE$7:$AS$20,$AC$85-3+1))))","v":0},{"$f":"IF(AND($G$54=W77,$E$61=0),0,IF(W82<=0,0,IF($E$63<1.5,HLOOKUP(24-$G$54-$E$61+1,$AE$45:$AS$58,$AC$85-3+1),HLOOKUP(24-$G$54-$E$61+1,$AE$7:$AS$20,$AC$85-3+1))))","v":0},{"$f":"IF(AND($G$54=X77,$E$61=0),0,IF(X82<=0,0,IF($E$63<1.5,HLOOKUP(25-$G$54-$E$61+1,$AE$45:$AS$58,$AC$85-3+1),HLOOKUP(25-$G$54-$E$61+1,$AE$7:$AS$20,$AC$85-3+1))))","v":0},{"$f":"IF(AND($G$54=Y77,$E$61=0),0,IF(Y82<=0,0,IF($E$63<1.5,HLOOKUP(26-$G$54-$E$61+1,$AE$45:$AS$58,$AC$85-3+1),HLOOKUP(26-$G$54-$E$61+1,$AE$7:$AS$20,$AC$85-3+1))))","v":0},{"$f":"IF(AND($G$54=Z77,$E$61=0),0,IF(Z82<=0,0,IF($E$63<1.5,HLOOKUP(27-$G$54-$E$61+1,$AE$45:$AS$58,$AC$85-3+1),HLOOKUP(27-$G$54-$E$61+1,$AE$7:$AS$20,$AC$85-3+1))))","v":0},{"$f":"IF(AND($G$54=AA77,$E$61=0),0,IF(AA82<=0,0,IF($E$63<1.5,HLOOKUP(28-$G$54-$E$61+1,$AE$45:$AS$58,$AC$85-3+1),HLOOKUP(28-$G$54-$E$61+1,$AE$7:$AS$20,$AC$85-3+1))))","v":0},{"$f":"IF(AND($G$54=AB77,$E$61=0),0,IF(AB82<=0,0,IF($E$63<1.5,HLOOKUP(29-$G$54-$E$61+1,$AE$45:$AS$58,$AC$85-3+1),HLOOKUP(29-$G$54-$E$61+1,$AE$7:$AS$20,$AC$85-3+1))))","v":0}]
[7,null,{"$f":"IF(E84=0,\"\",DataInput!C65)","v":""},null,{"$f":"DataInput!E65","v":0},null,null,null,null,"f. Interest (d x e)",null,null,null,{"$f":"TRUNC(ROUND(+N82*N83,0))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0]
["Tax Rates",null,null,null,null,null,null,null,null,"g. Depreciation (Table 2 x cost)",null,null,null,{"$f":"TRUNC((IF(AND(N77>$G$54,N77<=MINA($G$55,$G$54+$E$43)),(HLOOKUP($E$43,$BE$43:$BJ$58,N77-$G$54+1)/100*MAXA($G$56-$H$66,0))+IF(N77=$G$54+1,MINA(IF($H$66>0,$H$66,0),$G$56),0),0))+0.5001)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"IF(E62<4,4,IF(E62>16,16,E62))","v":4}]
[null,"Marginal tax rates(enter in chronological order)",null,null,null,null,null,null,null,"h. Other Ownership costs",null,null,{"$f":"G25","v":0},{"$f":"G26","v":0},{"$f":"G27","v":0},{"$f":"G28","v":0},{"$f":"G29","v":0},{"$f":"G30","v":0},{"$f":"G31","v":0},{"$f":"G32","v":0},{"$f":"G33","v":0},{"$f":"G34","v":0},{"$f":"G35","v":0},{"$f":"G36","v":0},{"$f":"G37","v":0},{"$f":"G38","v":0},{"$f":"G39","v":0}]
[null,null,null,"Self ",null,"Years at ",null,null,null,"i. Deductible ownership cost (f+g+h)",null,null,{"$f":"TRUNC(ROUND(+M84+M85+M86,0))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Federal","State","employment",null,"these rates",null,null,null,"  Terminal value (end of purchase life)"]
[1,{"$f":"DataInput!B70","v":0},{"$f":"DataInput!C70","v":0},{"$f":"DataInput!D70","v":0},null,{"$f":"DataInput!F70","v":0},null,null,null,"j. ","Total",null,null,{"$f":"IF(N77=$G$55,$F$48,0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[2,{"$f":"DataInput!B71","v":0},{"$f":"DataInput!C71","v":0},{"$f":"DataInput!D71","v":0},null,{"$f":"DataInput!F71","v":0},{"$f":"IF(SUM(F$89:F$95)<G$55,\"Tax data provided for fewer years\",\"   \")","v":"   "},null,null,"k.","Undepreciated balance",null,null,{"$f":"IF(N77=$G$55,$G$56-SUM($N$85:$AB$85),0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[3,{"$f":"DataInput!B72","v":0},{"$f":"DataInput!C72","v":0},{"$f":"DataInput!D72","v":0},null,{"$f":"DataInput!F72","v":0},{"$f":"IF(SUM(F$89:F$95)<G$55,\"than analysis period\",\"   \")","v":"   "},null,null,"li.","Taxable income",null,{"$f":"M89-M90","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[4,{"$f":"DataInput!B73","v":0},{"$f":"DataInput!C73","v":0},{"$f":"DataInput!D73","v":0},null,{"$f":"DataInput!F73","v":0},null,null,null,"m.","Unpaid loan principal",null,null,{"$f":"IF($G$55<$G$54+$E$61,IF(N77=$G$55,$G$56-(SUM($N$82:$AB$82)-SUM($N$84:$AB$84)),0),0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"IF(T63<T62+R68,IF(AA77=$G$55,$G$56-(SUM($N$82:$AB$82)-SUM($N$84:$AB$84)),0),0)","v":0},{"$f":"IF(U63<U62+S68,IF(AB77=$G$55,$G$56-(SUM($N$82:$AB$82)-SUM($N$84:$AB$84)),0),0)","v":0}]
[5,{"$f":"DataInput!B74","v":0},{"$f":"DataInput!C74","v":0},{"$f":"DataInput!D74","v":0},null,{"$f":"DataInput!F74","v":0},{"$f":"IF(SUM(F$89:F$95)<G$70,\"Tax data provided for fewer years\",\"   \")","v":"   "},null,null,"n. Net tax deductible costs (c+i-l)",null,null,{"$f":"M81+M87-M91","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[6,{"$f":"DataInput!B75","v":0},{"$f":"DataInput!C75","v":0},{"$f":"DataInput!D75","v":0},null,{"$f":"DataInput!F75","v":0},{"$f":"IF(SUM(F$89:F$95)<G$70,\"than lease period\",\"   \")","v":"   "},null,null,"o. Tax rate (decimal form)",null,null,{"$f":"N94","v":0},{"$f":"$AO$101/100","v":0},{"$f":"$AO$102/100","v":0},{"$f":"$AO$103/100","v":0},{"$f":"$AO$104/100","v":0},{"$f":"$AO$105/100","v":0},{"$f":"$AO$106/100","v":0},{"$f":"$AO$107/100","v":0},{"$f":"$AO$108/100","v":0},{"$f":"$AO$109/100","v":0},{"$f":"$AO$110/100","v":0},{"$f":"$AO$111/100","v":0},{"$f":"$AO$112/100","v":0},{"$f":"$AO$113/100","v":0},{"$f":"$AO$114/100","v":0},{"$f":"$AO$115/100","v":0}]
[7,{"$f":"DataInput!B76","v":0},{"$f":"DataInput!C76","v":0},{"$f":"DataInput!D76","v":0},null,{"$f":"DataInput!F76","v":0},null,null,null,"p. Tax benefit (n x o)",null,null,{"$f":"TRUNC(ROUND(+M93*M94,0))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,"q. Before tax costs (c+d+h-j+m)",null,null,{"$f":"M81+M82+M86-M89+M92","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,null,"Tax rate and opportunity cost of capital calculations with variable cost of capital and tax rates over time"]
["Cost of Capital",null,null,null,null,"Years at ",null,null,null,"r. Net after tax cost (q - p)",null,null,{"$f":"M96-M95","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Before tax opportunity cost of capital",null,null,null,"these rates",null,null,null,"s.  Refundable deposit",null,null,{"$f":"G57","v":0},{"$f":"IF(N77=$G$54,-$G$57,0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,null,null,null,null,null,null,null,null,null,"     Opportunity",null,null,"Cumulative"]
[1,null,{"$f":"DataInput!C80","v":0},null,null,{"$f":"DataInput!F80","v":0},null,null,null,"t.  Investment tax credit ",null,null,null,{"$f":"IF(N77=$G$54+1,+$G$65,0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,null,"1st tax rates","2nd",3,4,5,6,7,"All","     Cost of capital",null,"Discount","discount "]
[2,null,{"$f":"DataInput!C81","v":0},null,null,{"$f":"DataInput!F81","v":0},{"$f":"IF(SUM(F$99:F$105)<G$55,\"Rate data provided for fewer years\",\"   \")","v":"   "},null,null,"u.  Investment tax credit recapture",null,null,null,{"$f":"IF(N77<>$G$55,0,IF(N77=$G$54+2,IF($E$43>3,$G$65*3/5,$G$65*1/3),IF($G$54+3=N77,IF($E$43>3,$G$65*2/5,0),IF($G$54+4=N77,IF($E$43>3,$G$65*1/5,0),0))))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,"Year",null,null,null,null,null,null,null,"years","Before tax","After tax","rate","rate"]
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[4,null,{"$f":"DataInput!C83","v":0},null,null,{"$f":"DataInput!F83","v":0},null,null,null,"w. P.V. factor (after tax - Table 3)",null,null,1,{"$f":"$AQ$124","v":1},{"$f":"$AQ$125","v":1.01},{"$f":"$AQ$126","v":1},{"$f":"$AQ$127","v":1},{"$f":"$AQ$128","v":1},{"$f":"$AQ$129","v":1},{"$f":"$AQ$130","v":1},{"$f":"$AQ$131","v":1},{"$f":"$AQ$132","v":1},{"$f":"$AQ$133","v":1},{"$f":"$AQ$134","v":1},{"$f":"$AQ$135","v":1},{"$f":"$AQ$136","v":1},{"$f":"$AQ$137","v":1},{"$f":"$AQ$138","v":1},null,null,null,null,2,0,0,0,0,0,0,0,{"$f":"SUM(AH102:AN102)","v":0},{"$f":"AO125","v":0},{"$f":"AP102*(1-AO102/100)","v":0},{"$f":"PV(AQ102/100,1,0,-1)","v":1},{"$f":"(PRODUCT($AR$101:$AR102)+0.005)","v":1.0049999999999999}]
[5,null,{"$f":"DataInput!C84","v":0},null,null,{"$f":"DataInput!F84","v":0},{"$f":"IF(SUM(F$99:F$105)<G$70,\"Rate data provided for fewer years\",\"   \")","v":"   "},null,null,"x .Net present value",null,null,{"$f":"TRUNC(ROUND(+M101*M102,0))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,3,0,0,0,0,0,0,0,0,0,0,1,{"$f":"PRODUCT($AR$101:$AR103)","v":1}]
[6,null,{"$f":"DataInput!C85","v":0},null,null,{"$f":"DataInput!F85","v":0},{"$f":"IF(SUM(F$99:F$105)<G$70,\"than lease period\",\"   \")","v":"   "},null,null,"y. Total net present value of costs",null,null,null,null,{"$f":"SUM(M103:AB103)","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,4,0,0,0,0,0,0,0,0,0,0,1,{"$f":"PRODUCT($AR$101:$AR104)","v":1}]
[7,null,{"$f":"DataInput!C86","v":0},null,null,{"$f":"DataInput!F86","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,5,0,0,0,0,0,0,0,0,0,0,1,{"$f":"PRODUCT($AR$101:$AR105)","v":1}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,6,0,0,0,0,0,0,0,0,0,0,1,{"$f":"PRODUCT($AR$101:$AR106)","v":1}]
["Section 179 depreciation can be taken on other purchases because this item is leased:",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,7,0,0,0,0,0,0,0,0,0,0,1,{"$f":"PRODUCT($AR$101:$AR107)","v":1}]
[null,"Amount of Section 179 depreciation to be taken",null,null,null,{"$f":"DataInput!F89","v":0},null,{"$f":"IF(AND(F108<>0,H109=0),\"Depreciation period must be entered\",\"  \")","v":"  "},null,null,null,"PURCHASE WITH FINANCING ANALYSIS (TABLE B)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,8,0,0,0,0,0,0,0,0,0,0,1,{"$f":"PRODUCT($AR$101:$AR108)","v":1}]
["          ","Years asset would otherwise be depreciated over(3,5,7,10,15 or 20)",null,null,null,null,null,{"$f":"DataInput!H90","v":0},null,null,null,null,null,null,null,null,"Year",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,9,0,0,0,0,0,0,0,0,0,0,1,{"$f":"PRODUCT($AR$101:$AR109)","v":1},null,"Locates initial screen position"]
[null,null,null,null,null,{"$f":"IF(AND(R172<>1,H109<>0),\"Inappropriate depreciation period selected\",\"   \")","v":"   "},null,null,null,"Item",null,null,"Down pmt.",1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,null,null,null,null,10,0,0,0,0,0,0,0,0,0,0,1,{"$f":"PRODUCT($AR$101:$AR110)","v":1},null,"Automatic execute macro"]
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[null,null,null,null,null,null,null,null,null,"a. Loan payment",null,null,{"$f":"E45","v":0},{"$f":"IF(N110<=MINA($G$55,$D$74),(IF($D$76<>0,(PMT($D$76/100/$D$75,$D$74*$D$75,-($E$46-$E$45))*$D$75),($E$46-$E$45)*AU173)),0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,12,0,0,0,0,0,0,0,0,0,0,1,{"$f":"PRODUCT($AR$101:$AR112)","v":1}]
[null,null,null,null,null,null,null,null,null,"b. Interest proportion (Table 1)",null,null,null,{"$f":"IF($D$76<>0,IF($D$74-N110<0,0,IF($D$75<1.5,HLOOKUP(15-$D$74+1,$AE$45:$AS$58,$AC$113-3+1),HLOOKUP(15-$D$74+1,$AE$7:$AS$20,$AC$113-3+1))),AU174)","v":0},{"$f":"IF($D$76<>0,IF($D$74-O110<0,0,IF($D$75<1.5,HLOOKUP(15+N110-$D$74+1,$AE$45:$AS$58,$AC$113-3+1),HLOOKUP(15+N110-$D$74+1,$AE$7:$AS$20,$AC$113-3+1))),AV174)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"IF(D76<4,4,IF(D76>16,16,D76))","v":4},null,null,null,13,0,0,0,0,0,0,0,0,0,0,1,{"$f":"PRODUCT($AR$101:$AR113)","v":1},null,"{goto}aq122~"]
[null,null,null,null,null,null,null,null,null,"c. Interest (a x b)",null,null,null,{"$f":"TRUNC(ROUND(+N112*N113,0))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,14,0,0,0,0,0,0,0,0,0,0,1,{"$f":"PRODUCT($AR$101:$AR114)","v":1},null,"{goto}a1~"]
[null,null,null,null,null,null,null,null,null,"d. Depreciation (Table 2 x cost)",null,null,null,{"$f":"IF(N110<=MINA($G$55,$E$43+1),(HLOOKUP($E$43,$BE$43:$BJ$58,N110+1)/100*MAXA($E$46-$H$44,0))+MINA($E$46,IF($H$44>0,$H$44,0)),0)","v":0},{"$f":"IF(O110<=MINA($G$55,$E$43+1),(HLOOKUP($E$43,$BE$43:$BJ$58,O110+1)/100*MAXA($E$46-$H$44,0)),0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,15,0,0,0,0,0,0,0,0,0,0,1,{"$f":"PRODUCT($AR$101:$AR115)","v":1}]
[null,null,null,null,null,null,null," ",null,"e. Other Ownership costs",null,null,{"$f":"G25","v":0},{"$f":"G26","v":0},{"$f":"G27","v":0},{"$f":"G28","v":0},{"$f":"G29","v":0},{"$f":"G30","v":0},{"$f":"G31","v":0},{"$f":"G32","v":0},{"$f":"G33","v":0},{"$f":"G34","v":0},{"$f":"G35","v":0},{"$f":"G36","v":0},{"$f":"G37","v":0},{"$f":"G38","v":0},{"$f":"G39","v":0},{"$f":"G40","v":0},null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"AO$115","v":0},null,null,1,{"$f":"PRODUCT($AR$101:$AR116)","v":1}]
[null,null,null,null,null,null,null,null,null,"f.Deductible ownership cost (c+d+e)",null,null,{"$f":"TRUNC(ROUND(+M114+M115+M116,0))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,null,null,null,null,null,null,null,null,0,null,null,1,{"$f":"PRODUCT($AR$101:$AR117)","v":1}]
[null,null,null,null,null,null,null,null,null,"g.  Terminal value",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,null,null,1,{"$f":"PRODUCT($AR$101:$AR118)","v":1}]
[null,null,null,null,null,null,null,null,null,null,"Total",null,null,{"$f":"IF(N110=$G$55,$F$48,0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,null,null,null,null,null,null,null,null,0,null,null,1,{"$f":"PRODUCT($AR$101:$AR119)","v":1}]
[null,null,null,null,null,null,null,null,null,"h.","Undepreciated balance",null,null,{"$f":"IF(N110=$G$55,$E$46-SUM($N$115:$AB$115),0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,null,null,null,null,null,null,null,null,0,"Truncated cumulative",null,1,{"$f":"PRODUCT($AR$101:$AR120)","v":1}]
[null,null,null,null,null,null,null,null,null,"i.","Taxable income",null,null,{"$f":"N119-N120","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,null,"Opportunity cost of capital",null,null,null,null,null,null,0,"discount rate =",null,1,{"$f":"PRODUCT($AR$101:$AR121)","v":1}]
[null,null,null,null,null,null,null,null,null,"j.","Unpaid loan pricipal",null,null,{"$f":"IF($G$55=N110,IF($D$74>$G$55,IF($D$76<>0,$E$46-$E$45-(SUM($N$112:$AB$112)-SUM($N$114:$AB$114)),($E$46-$D$45)*AU175),0),0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,null,"1st rate","2nd",3,4,5,6,7,"All","(from above)"]
[null,null,null,null,null,null,null,null,null,"k. Net tax deductible costs (f - i)",null,null,{"$f":"M117-M121","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,"Year",null,null,null,null,null,null,null,"years"]
[null,null,null,null,null,null,null,null,null,"l. Tax rate (decimal form)",null,null,{"$f":"N124","v":0},{"$f":"$AO$101/100","v":0},{"$f":"$AO$102/100","v":0},{"$f":"$AO$103/100","v":0},{"$f":"$AO$104/100","v":0},{"$f":"$AO$105/100","v":0},{"$f":"$AO$106/100","v":0},{"$f":"$AO$107/100","v":0},{"$f":"$AO$108/100","v":0},{"$f":"$AO$109/100","v":0},{"$f":"$AO$110/100","v":0},{"$f":"$AO$111/100","v":0},{"$f":"$AO$112/100","v":0},{"$f":"$AO$113/100","v":0},{"$f":"$AO$114/100","v":0},{"$f":"$AO$115/100","v":0},null,null,null,null,1,{"$f":"IF(AG124<=$F$99,$C$99,0)","v":0},{"$f":"IF(AND($AG124>$F$99,$AG124<=SUM($F$99:$F$100)),$C$100,0)","v":0},{"$f":"IF(AND($AG124>SUM($F$99:$F$100),$AG124<=SUM($F$99:$F$101)),$C$101,0)","v":0},{"$f":"IF(AND($AG124>SUM($F$99:$F$101),$AG124<=SUM($F$99:$F$102)),$C$102,0)","v":0},{"$f":"IF(AND($AG124>SUM($F$99:$F$102),$AG124<=SUM($F$99:$F$103)),$C$103,0)","v":0},{"$f":"IF(AND($AG124>SUM($F$99:$F$103),$AG124<=SUM($F$99:$F$104)),$C$104,0)","v":0},{"$f":"IF(AND($AG124>SUM($F$99:$F$104),$AG124<=SUM($F$99:$F$105)),$C$105,0)","v":0},{"$f":"SUM(AH124:AN124)","v":0},null,{"$f":"(TRUNC((AS101+0.005)*100))/100","v":1},null,null,null,null,"Variable interest rate",null,null,null,null,null,null,{"$f":"BC$115","v":0}]
[null,null,null,null,null,null,null,null,null,"m Tax benefit (k x l)",null,null,{"$f":"TRUNC(ROUND(+M123*M124,0))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,2,0,0,0,0,0,0,0,{"$f":"SUM(AH125:AN125)","v":0},null,{"$f":"(TRUNC((AS102+0.005)*100))/100","v":1.01},null,null,null,null,"1st rate","2nd",3,4,5,6,7,"All"]
[null,null,null,null,null,null,null,null,null,"n. Net after tax cost (a+e-g+j-m)",null,null,{"$f":"M112+M116-M119+M122-M125","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,3,0,0,0,0,0,0,0,0,null,1,null,null,null,"Year",null,null,null,null,null,null,null,"years"]
[null,null,null,null,null,null,null,null,null,"o.  Investment tax credit",null,null,null,{"$f":"E50","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,4,0,0,0,0,0,0,0,0,null,1,null,null,null,1,{"$f":"IF(AU127<=$E$78,$C$78,0)","v":0},{"$f":"IF(AND($AU127>$E$78,$AU127<=SUM($E$78:$E$79)),$C$79,0)","v":0},{"$f":"IF(AND($AU127>SUM($E$78:$E$79),$AU127<=SUM($E$78:$E$80)),$C$80,0)","v":0},{"$f":"IF(AND($AU127>SUM($E$78:$E$80),$AU127<=SUM($E$78:$E$81)),$C$81,0)","v":0},{"$f":"IF(AND($AU127>SUM($E$78:$E$81),$AU127<=SUM($E$78:$E$82)),$C$82,0)","v":0},{"$f":"IF(AND($AU127>SUM($E$78:$E$82),$AU127<=SUM($E$78:$E$83)),$C$83,0)","v":0},{"$f":"IF(AND($AU127>SUM($E$78:$E$83),$AU127<=SUM($E$78:$E$84)),$C$84,0)","v":0},{"$f":"SUM(AV127:BB127)","v":0}]
[null,null,null,null,null,null,null,null,null,"p. Investment credit recapture",null,null,null,0,{"$f":"IF($G$55>=5,0,IF($G$55=O110,IF($E$43<=3,1/3*$N$52,3/5*$N$52),0))","v":0},{"$f":"IF($G$55>=5,0,IF($G$55=P110,IF($E$43<=3,0,2/5*$N$52),0))","v":0},{"$f":"IF(G55<=5,0,IF($G$55=Q110,IF($E$43<=3,0,1/5*$N$52),0))","v":0},0,null,null,null,null,null,null,null,null,null,null,null,null,null,null,5,0,0,0,0,0,0,0,0,null,1,null,null,null,2,{"$f":"IF(AU128<=$E$78,$C$78,0)","v":0},{"$f":"IF(AND($AU128>$E$78,$AU128<=SUM($E$78:$E$79)),$C$79,0)","v":0},{"$f":"IF(AND($AU128>SUM($E$78:$E$79),$AU128<=SUM($E$78:$E$80)),$C$80,0)","v":0},{"$f":"IF(AND($AU128>SUM($E$78:$E$80),$AU128<=SUM($E$78:$E$81)),$C$81,0)","v":0},{"$f":"IF(AND($AU128>SUM($E$78:$E$81),$AU128<=SUM($E$78:$E$82)),$C$82,0)","v":0},{"$f":"IF(AND($AU128>SUM($E$78:$E$82),$AU128<=SUM($E$78:$E$83)),$C$83,0)","v":0},{"$f":"IF(AND($AU128>SUM($E$78:$E$83),$AU128<=SUM($E$78:$E$84)),$C$84,0)","v":0},{"$f":"SUM(AV128:BB128)","v":0}]
[null,null,null,null,null,null,null,null,null,"q.  Total cost (n-o+p)",null,null,{"$f":"M126-M127+M128","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,6,0,0,0,0,0,0,0,0,null,1,null,null,null,3,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,"r. P.V. Factor (after tax - Table 3)",null,null,1,{"$f":"$AQ$124","v":1},{"$f":"$AQ$125","v":1.01},{"$f":"$AQ$126","v":1},{"$f":"$AQ$127","v":1},{"$f":"$AQ$128","v":1},{"$f":"$AQ$129","v":1},{"$f":"$AQ$130","v":1},{"$f":"$AQ$131","v":1},{"$f":"$AQ$132","v":1},{"$f":"$AQ$133","v":1},{"$f":"$AQ$134","v":1},{"$f":"$AQ$135","v":1},{"$f":"$AQ$136","v":1},{"$f":"$AQ$137","v":1},{"$f":"$AQ$138","v":1},null,null,null,null,7,0,0,0,0,0,0,0,0,null,1,null,null,null,4,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,"s.  Net present value (q x r)",null,null,{"$f":"TRUNC(ROUND(M129*M130,0))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,null,null,null,8,0,0,0,0,0,0,0,0,null,1,null,null,null,5,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,"t.  Total net present value of costs",null,null,null,null,{"$f":"SUM(N131:AB131)","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,9,0,0,0,0,0,0,0,0,null,1,null,null,null,6,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,10,0,0,0,0,0,0,0,0,null,1,null,null,null,7,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,11,0,0,0,0,0,0,0,0,null,1,null,null,null,8,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,12,0,0,0,0,0,0,0,0,null,1,null,null,null,9,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,13,0,0,0,0,0,0,0,0,null,1,null,null,null,10,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,14,0,0,0,0,0,0,0,0,null,1,null,null,null,11,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,"VALUE OF SECTION 179 ON OTHER ASSETS",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,15,0,0,0,0,0,0,0,0,null,1,null,null,null,12,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1,null,null,null,13,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Year",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1,null,null,null,14,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,"Item",null,null,"Down pmt.",1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,"Total",null,null,null,null,null,null,null,1,null,null,null,15,0,{"$f":"IF(AND($AU141>$E$78,$AU141<=SUM($E$78:$E$79)),$C$78,0)","v":0},0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,"Deprectiation if not section 179",null,null,null,{"$f":"IF($H$109=$BE$43,$BE44*$F$108/100,IF($H$109=$BF$43,$BF44*$F$108/100,IF($H$109=$BG$43,$BG44*$F$108/100,IF($H$109=$BH$43,$BH44*$F$108/100,IF($H$109=$BI$43,$BI44*$F$108/100,$BJ44*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE45*$F$108/100,IF($H$109=$BF$43,$BF45*$F$108/100,IF($H$109=$BG$43,$BG45*$F$108/100,IF($H$109=$BH$43,$BH45*$F$108/100,IF($H$109=$BI$43,$BI45*$F$108/100,$BJ45*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE46*$F$108/100,IF($H$109=$BF$43,$BF46*$F$108/100,IF($H$109=$BG$43,$BG46*$F$108/100,IF($H$109=$BH$43,$BH46*$F$108/100,IF($H$109=$BI$43,$BI46*$F$108/100,$BJ46*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE47*$F$108/100,IF($H$109=$BF$43,$BF47*$F$108/100,IF($H$109=$BG$43,$BG47*$F$108/100,IF($H$109=$BH$43,$BH47*$F$108/100,IF($H$109=$BI$43,$BI47*$F$108/100,$BJ47*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE48*$F$108/100,IF($H$109=$BF$43,$BF48*$F$108/100,IF($H$109=$BG$43,$BG48*$F$108/100,IF($H$109=$BH$43,$BH48*$F$108/100,IF($H$109=$BI$43,$BI48*$F$108/100,$BJ48*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE49*$F$108/100,IF($H$109=$BF$43,$BF49*$F$108/100,IF($H$109=$BG$43,$BG49*$F$108/100,IF($H$109=$BH$43,$BH49*$F$108/100,IF($H$109=$BI$43,$BI49*$F$108/100,$BJ49*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE50*$F$108/100,IF($H$109=$BF$43,$BF50*$F$108/100,IF($H$109=$BG$43,$BG50*$F$108/100,IF($H$109=$BH$43,$BH50*$F$108/100,IF($H$109=$BI$43,$BI50*$F$108/100,$BJ50*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE51*$F$108/100,IF($H$109=$BF$43,$BF51*$F$108/100,IF($H$109=$BG$43,$BG51*$F$108/100,IF($H$109=$BH$43,$BH51*$F$108/100,IF($H$109=$BI$43,$BI51*$F$108/100,$BJ51*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE52*$F$108/100,IF($H$109=$BF$43,$BF52*$F$108/100,IF($H$109=$BG$43,$BG52*$F$108/100,IF($H$109=$BH$43,$BH52*$F$108/100,IF($H$109=$BI$43,$BI52*$F$108/100,$BJ52*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE53*$F$108/100,IF($H$109=$BF$43,$BF53*$F$108/100,IF($H$109=$BG$43,$BG53*$F$108/100,IF($H$109=$BH$43,$BH53*$F$108/100,IF($H$109=$BI$43,$BI53*$F$108/100,$BJ53*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE54*$F$108/100,IF($H$109=$BF$43,$BF54*$F$108/100,IF($H$109=$BG$43,$BG54*$F$108/100,IF($H$109=$BH$43,$BH54*$F$108/100,IF($H$109=$BI$43,$BI54*$F$108/100,$BJ54*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE55*$F$108/100,IF($H$109=$BF$43,$BF55*$F$108/100,IF($H$109=$BG$43,$BG55*$F$108/100,IF($H$109=$BH$43,$BH55*$F$108/100,IF($H$109=$BI$43,$BI55*$F$108/100,$BJ55*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE56*$F$108/100,IF($H$109=$BF$43,$BF56*$F$108/100,IF($H$109=$BG$43,$BG56*$F$108/100,IF($H$109=$BH$43,$BH56*$F$108/100,IF($H$109=$BI$43,$BI56*$F$108/100,$BJ56*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE57*$F$108/100,IF($H$109=$BF$43,$BF57*$F$108/100,IF($H$109=$BG$43,$BG57*$F$108/100,IF($H$109=$BH$43,$BH57*$F$108/100,IF($H$109=$BI$43,$BI57*$F$108/100,$BJ57*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE58*$F$108/100,IF($H$109=$BF$43,$BF58*$F$108/100,IF($H$109=$BG$43,$BG58*$F$108/100,IF($H$109=$BH$43,$BH58*$F$108/100,IF($H$109=$BI$43,$BI58*$F$108/100,$BJ58*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE59*$F$108/100,IF($H$109=$BF$43,$BF59*$F$108/100,IF($H$109=$BG$43,$BG59*$F$108/100,IF($H$109=$BH$43,$BH59*$F$108/100,IF($H$109=$BI$43,$BI59*$F$108/100,$BJ59*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE60*$F$108/100,IF($H$109=$BF$43,$BF60*$F$108/100,IF($H$109=$BG$43,$BG60*$F$108/100,IF($H$109=$BH$43,$BH60*$F$108/100,IF($H$109=$BI$43,$BI60*$F$108/100,$BJ60*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE61*$F$108/100,IF($H$109=$BF$43,$BF61*$F$108/100,IF($H$109=$BG$43,$BG61*$F$108/100,IF($H$109=$BH$43,$BH61*$F$108/100,IF($H$109=$BI$43,$BI61*$F$108/100,$BJ61*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE62*$F$108/100,IF($H$109=$BF$43,$BF62*$F$108/100,IF($H$109=$BG$43,$BG62*$F$108/100,IF($H$109=$BH$43,$BH62*$F$108/100,IF($H$109=$BI$43,$BI62*$F$108/100,$BJ62*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE63*$F$108/100,IF($H$109=$BF$43,$BF63*$F$108/100,IF($H$109=$BG$43,$BG63*$F$108/100,IF($H$109=$BH$43,$BH63*$F$108/100,IF($H$109=$BI$43,$BI63*$F$108/100,$BJ63*$F$108/100)))))","v":0},{"$f":"IF($H$109=$BE$43,$BE64*$F$108/100,IF($H$109=$BF$43,$BF64*$F$108/100,IF($H$109=$BG$43,$BG64*$F$108/100,IF($H$109=$BH$43,$BH64*$F$108/100,IF($H$109=$BI$43,$BI64*$F$108/100,$BJ64*$F$108/100)))))","v":0},{"$f":"SUM(N142:AH142)","v":0},null,null,null,null,null,null,null,1]
[null,null,null,null,null,null,null,null,null,"Tax rate (decimal form)",null,null,{"$f":"AO223/100","v":0},{"$f":"$AO$101/100","v":0},{"$f":"$AO$102/100","v":0},{"$f":"$AO$103/100","v":0},{"$f":"$AO$104/100","v":0},{"$f":"$AO$105/100","v":0},{"$f":"$AO$106/100","v":0},{"$f":"$AO$107/100","v":0},{"$f":"$AO$108/100","v":0},{"$f":"$AO$109/100","v":0},{"$f":"$AO$110/100","v":0},{"$f":"$AO$111/100","v":0},{"$f":"$AO$112/100","v":0},{"$f":"$AO$113/100","v":0},{"$f":"$AO$114/100","v":0},{"$f":"$AO$115/100","v":0},{"$f":"$AO$116/100","v":0},{"$f":"$AO$117/100","v":0},{"$f":"$AO$118/100","v":0},{"$f":"$AO$119/100","v":0},{"$f":"$AO$120/100","v":0},{"$f":"$AO$121/100","v":0},null,null,null,null,null,null,null,null,1]
[null,null,null,null,null,null,null,null,null,"Tax benefit ",null,null,{"$f":"TRUNC(ROUND(+M142*M143,0))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"SUM(N144:AH144)","v":0},null,null,null,null,null,null,null,1]
[null,null,null,null,null,null,null,null,null,"Present value factor",null,null,1,{"$f":"$AQ$124","v":1},{"$f":"$AQ$125","v":1.01},{"$f":"$AQ$126","v":1},{"$f":"$AQ$127","v":1},{"$f":"$AQ$128","v":1},{"$f":"$AQ$129","v":1},{"$f":"$AQ$130","v":1},{"$f":"$AQ$131","v":1},{"$f":"$AQ$132","v":1},{"$f":"$AQ$133","v":1},{"$f":"$AQ$134","v":1},{"$f":"$AQ$135","v":1},{"$f":"$AQ$136","v":1},{"$f":"$AQ$137","v":1},{"$f":"$AQ$138","v":1},{"$f":"$AQ$139","v":1},{"$f":"$AQ$140","v":1},{"$f":"$AQ$141","v":1},{"$f":"$AQ$142","v":1},{"$f":"$AQ$143","v":1},{"$f":"$AQ$144","v":1},null,null,null,null,null,null,null,null,null,null,null,null,null,"Calculation of payments and interest portion with variable rates"]
[null,null,null,null,null,null,null,null,null,"P. V. of depr. If not 179.",null,null,{"$f":"M144*M145","v":0},{"$f":"N144*N145","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"SUM(N146:AH146)","v":0},null,null,null,null,null,null,null,null,null,null,null,null,"Loan pmt","Loan pmt.","Remaining","Remaining","Ann. Pmts ","principal","Interest"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Year","per $","per yr per $","bal. After 1","bal. As prop","as %. Of","portion of","as % of"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Amount of section 179 depr.",null,null,null,{"$f":"F108","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,"of balance","rem. Bal.","yr. Pmts.","orig. loan","orig. loan","payment","payment"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Tax rate (decimal form)",null,null,null,{"$f":"N143","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null," ",null,null,null,1,{"$f":"IF(AU149<=$D$74,PMT($BC127/100/$D$75,($D$74-AU148)*$D$75,-1,0,0),0)","v":0},{"$f":"AV149*$D$75","v":0},{"$f":"(IF(AU149<=$D$74,FV(BC127/100/$D$75,$D$75,AV149,-1,0),0))","v":0},{"$f":"IF(AU149<=$D$74,AX149,0)","v":0},{"$f":"AW149","v":0},{"$f":"1-AY149","v":1},{"$f":"IF(AU149<=$D$74,(AW149-BA149)/AW149,0)","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Tax benefit",null,null,null,{"$f":"TRUNC(ROUND(+V148*V149,0))","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,2,{"$f":"IF(AU150<=$D$74,-PMT($BC128/100/$D$75,($D$74-AU149)*$D$75,AX149,0,0),0)","v":0},{"$f":"AV150*$D$75","v":0},{"$f":"(IF(AU150<=$D$74,FV(BC128/100/$D$75,$D$75,AV150,-AX149,0),0))","v":0},{"$f":"IF(AU150<=$D$74,AX150,0)","v":0},{"$f":"AW150","v":0},{"$f":"AY149-AY150","v":0},{"$f":"IF(AU150<=$D$74,(AW150-BA150)/AW150,0)","v":0},null,null,null,"Credit terms for purchase of asset"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Present value factor",null,null,null,{"$f":"N145","v":1},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,3,{"$f":"IF(AU151<=$D$74,-PMT($BC129/100/$D$75,($D$74-AU150)*$D$75,AX150,0,0),0)","v":0},0,{"$f":"(IF(AU151<=$D$74,FV(BC129/100/$D$75,$D$75,AV151,-AX150,0),0))","v":0},0,0,{"$f":"AY150-AY151","v":0},0,null,null,null,null,"Term (years) - - - - - - - ",null,"- - - - - - - - - - - - - - - - ",null,{"$f":"D74","v":0}]
[null,null,null,"Results Summary (Buy)",null,null,null,null,null,null,null,null,null,null,null,null,null,"Present value of depreciation:",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,4,0,0,0,0,0,0,0,null,null,null,null,"Interest rate (percent ) -",null,"- - - - - - - - - - - - - - - - ",null,{"$f":"IF(D76>0,D76,C78)","v":""}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Using Section 179",null,null,{"$f":"V150*V151","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,5,0,0,0,0,0,0,0,null,null,null,null,"Payments per year - - -",null,"- - - - - - - - - - - - - - - - ",null,{"$f":"D75","v":0}]
["Analysis conducted for:",null,{"$f":"G21","v":0},null,"Lease analyzed is a: ",null,{"$f":"G20","v":0},null,null,null,null,null,null,null,null,null,null,null,"Using ordinary depreciation",null,null,{"$f":"AI146","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,6,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Savings",null,{"$f":"V153-V154","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,7,0,0,0,0,0,0,0,null,null,"Marginal state tax rate - - - - - - - - -",null,null,6.85]
[null,"    This analysis compared leasing the asset for a period of",null,null,null,null,{"$f":"G54","v":0},"years,",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,8,0,0,0,0,0,0,0,null,null,"Marginal federal tax rate - - - - - - - ",null,null,28]
[null,"      followed by purchase of the asset for a residual value of",null,null,null,null,{"$f":"G56","v":0},"dollars, ",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,9,0,0,0,0,0,0,0,null,null,"Marginal self employment tax rate -",null,null,2.9,null,"Marginal tax (%) rate is  ",null,{"$f":"TRUNC((+BH155/100+(1-BH155/100)*(BH156/100+BH157/100)+0.005)*100)","v":36}]
[null,"      financed over",null,{"$f":"E61","v":0}," years, with interest at",null,{"$f":"E62","v":0},"percent",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,10,0,0,0,0,0,0,0]
[null,"      to purchase of the asset for",null,null,{"$f":"E46","v":0},"dollars, financed over a",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Year",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,11,0,0,0,0,0,0,0,null,null,"Before tax discount rate or"]
[null,"      total of",{"$f":"D74","v":0},"years, with interest at",null,{"$f":"IF(D76>0,D76,MIN(C78:C84))","v":0},{"$f":"IF(D76<>0,\"percent.\",\"            to\")","v":"            to"},{"$f":"IF(D76<>0,\" \",MAX(C78:C84))","v":0},{"$f":"IF(D76<>0,\" \",\"percent.\")","v":"percent."},null,null,null,null,null,null,null,null,"Down pmt.",1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,null,null,null,null,null,null,null,null,null,null,null,null,12,0,0,0,0,0,0,0,null,null,"        opportunity cost of capital - - - ",null,null,10,null,"After tax discount rate is",null,{"$f":"TRUNC((+BH160*(1-BL157/100))+0.005)","v":6}]
[null,"      The total analysis period was",null,null,{"$f":"G55","v":0},"years.",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,13,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,14,0,0,0,0,0,0,0]
[null,"     Use of leasing allowed a total of",null,null,{"$f":"F108","v":0},"dollars of other non leased assets",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,15,0,0,0,0,0,0,0]
[null,"     to be depreciated using Section 179 rather than being depreciated"]
[null,"     depreciated over",null,{"$f":"H109","v":0},"years using the 150% declining method.",null,null,null,null,null,null,null,null,null,null,null,null,"Test of line h109",null,"Test of line e43"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(H109=3,1,0)","v":0},null,{"$f":"IF(E43=3,1,0)","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(AZ149:AZ163)","v":0},{"$f":"SUM(BA149:BA163)","v":1},{"$f":"SUM(BB149:BB163)","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(H109=5,1,0)","v":0},null,{"$f":"IF(E43=5,1,0)","v":0}]
["The results are:",null,"Present value of cost with purchase",null,null,null,{"$f":"O132","v":0},null,null,null,null,null,null,null,null,null,null,{"$f":"IF(H109=7,1,0)","v":0},null,{"$f":"IF(E43=7,1,0)","v":0}]
[null,null,"Present value of net costs of leasing",null,null,null,{"$f":"O104","v":0},null,null,null,null,null,null,null,null,null,null,{"$f":"IF(H109=10,1,0)","v":0},null,{"$f":"IF(E43=10,1,0)","v":0}]
[null,null,"Savings from not losing section 179 depreciation",null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(H109=15,1,0)","v":0},null,{"$f":"IF(E43=15,1,0)","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Transponse of the above table values for ease in programming"]
[null,null,"        on other assets as a result of leasing",null,null,null,{"$f":"V155","v":0},null,null,null,null,null,null,null,null,null,null,{"$f":"IF(H109=20,1,0)","v":0},null,{"$f":"IF(E43=20,1,0)","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Year"]
[null,null,"Savings (or loss) with leasing",null,null,null,{"$f":"G168-G169+G171","v":0},null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(R166:R171)","v":0},null,{"$f":"SUM(T166:T171)","v":0},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"annual payment as % of original loan",null,null,null,{"$f":"AZ149","v":0},{"$f":"AZ150","v":0},{"$f":"AZ151","v":0},{"$f":"AZ152","v":0},{"$f":"AZ153","v":0},{"$f":"AZ154","v":0},{"$f":"AZ155","v":0},{"$f":"AZ156","v":0},{"$f":"AZ157","v":0},{"$f":"AZ158","v":0},{"$f":"AZ159","v":0},{"$f":"AZ160","v":0},{"$f":"AZ161","v":0},{"$f":"AZ162","v":0},{"$f":"AZ163","v":0}]
[{"$f":"IF(G172<0,+B236,+B234)","v":"The lease is less costly than purchase with financing."},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Interest as a percent of payment",null,null,null,{"$f":"BB149","v":0},{"$f":"BB150","v":0},{"$f":"BB151","v":0},{"$f":"BB152","v":0},{"$f":"BB153","v":0},{"$f":"BB154","v":0},{"$f":"BB155","v":0},{"$f":"BB156","v":0},{"$f":"BB157","v":0},{"$f":"BB158","v":0},{"$f":"BB159","v":0},{"$f":"BB160","v":0},{"$f":"BB161","v":0},{"$f":"BB162","v":0},{"$f":"BB163","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Remaining balance as proportion of loan",null,null,null,{"$f":"AY149","v":0},{"$f":"AY150","v":0},{"$f":"AY151","v":0},{"$f":"AY152","v":0},{"$f":"AY153","v":0},{"$f":"AY154","v":0},{"$f":"AY155","v":0},{"$f":"AY156","v":0},{"$f":"AY157","v":0},{"$f":"AY158","v":0},{"$f":"AY159","v":0},{"$f":"AY160","v":0},{"$f":"AY161","v":0},{"$f":"AY162","v":0},{"$f":"AY163","v":0}]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,"Results Summary (Sell)"]
[]
["Analysis conducted for:",null,{"$f":"G21","v":0},null,"Lease analyzed is a:",null,{"$f":"G20","v":0}]
[]
[null,"      This analysis compared leasing the asset for a period of",null,null,null,null,{"$f":"G70","v":0},"years,"]
[null,"      to purchase of the asset for",null,null,{"$f":"E46","v":0},"dollars, financed over a"]
[null,"      total of",{"$f":"BK151","v":0},"years, with interest at",null,{"$f":"IF(D76<>0,D76,MIN(C78:C84))","v":0},{"$f":"IF(D76<>0,\"percent.\",\"             to\")","v":"             to"},{"$f":"IF(D76<>0,\" \",MAX(C78:C84))","v":0},{"$f":"IF(D76<>0,\" \",\"percent.\")","v":"percent."}]
[null,"      and sale of the asset at the end of a",null,null,{"$f":"G70","v":0},"year period for "]
[null,"      a residual value of",null,{"$f":"G71","v":0},"dollars."]
[]
[null,"     Use of leasing allowed a total of",null,null,{"$f":"F108","v":0},"dollars of other non leased assets"]
[null,"     to be depreciated using Section 179 rather than being depreciated"]
[null,"     depreciated over",null,{"$f":"H109","v":0},"years using the 150% declining method."]
[]
[]
["The results are:",null,"Present value of cost with purchase",null,null,null,{"$f":"O57","v":0}]
[null,null,"Present value of net costs of leasing",null,null,null,{"$f":"O28","v":0}]
[null,null,"Savings from not losing section 179 depreciation"]
[null,null,"        on other assets as a result of leasing",null,null,null,{"$f":"V155","v":0}]
[null,null,"Savings (or loss) with leasing",null,null,null,{"$f":"G199-G200+G202","v":0}]
[]
[{"$f":"IF(G203<0,B236,B234)","v":"The lease is less costly than purchase with financing."}]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"The lease is less costly than purchase with financing."]
[]
[null,"Purchase with financing is less costly than the lease."]

{"sheet":"DataInput","index":7,"n_rows":92,"n_cols":12,"rows_kept":92,"cut":false,"hidden":false,"merged":[[67,11,70,17],[71,11,74,17],[75,11,78,17],[79,11,82,17],[83,11,86,17],[45,11,48,17],[49,11,52,17],[53,11,56,17],[57,11,60,17],[61,11,64,17],[23,11,26,17],[27,11,30,17],[31,11,34,17],[35,11,38,17],[39,11,42,17],[1,11,4,17],[5,11,8,17],[9,11,12,17],[13,11,16,17],[17,11,20,17]]}
["Input Data for Lease Analysis",null,null,null,"Lease  Analyzed - - - -  "]
[null,null,null,null,"Analysis conducted for:",null,null,null,null,null,null,"To go back to main menu"]
[]
[null,"Lease",null,"Costs saved or added",null,null,"Other Ownership costs"]
["Year","Payment",null,"due to the lease",null,null,"due to purchase"]
["    advance",null,null,null,null,null,null,null,null,null,null,"To go back to input menu"]
[1]
[2]
[3]
[4,null,null,null,null,null,null,null,null,null,null,"To go to analysis menu"]
[5]
[6]
[7]
[8,null,null,null,null,null,null,null,null,null,null,"To go to results menu"]
[9]
[10]
[11]
[12,null,null,null,null,null,null,null,null,null,null,"To print all input data"]
[13]
[14]
[15]
[]
["Purchase data",null,null,{"$f":"IF(A!T172<>1,\"Inappropriate depreciation period entered\",\" \")","v":"Inappropriate depreciation period entered"}]
["Depreciation period (years) - - - - - - - - - - - - - -",null,null,null,null,"   Section 179 expense deduction",null,null,null,null,null,"To go back to main menu"]
[null,null,null,null,null,"        taken on purchase"]
["Down payment on loan for purchase option - - - -"]
["Purchase cost of asset (including down payment)",null,null,null,null,{"$f":"IF(E26>E27,\"Down payment exceeds purchase price\",\"  \")","v":"  "}]
[null,{"$f":"IF(E27=0,\"Analysis can not be made unless a purchase option is included.\",\" \")","v":"Analysis can not be made unless a purchase option is included."},null,null,null,null,null,null,null,null,null,"To go back to input menu"]
["Terminal value of the asset at the end of analysis period - - -"]
[null,null,null,{"$f":"IF(F29>E27,\"Terminal value exceeds purchase cost\",\" \")","v":" "}]
["Investment tax credit with purchase - - - - - - - - -"]
[null,null,null,null,{"$f":"IF(E31>(E27*0.04),\"Investment tax credit exceeds 4% of purchase cost\",\" \")","v":" "},null,null,null,null,null,null,"To go to analysis menu"]
["Lease terms"]
[null,{"$f":"IF(G36>15,\"Number of years analyzed cannot exceed 15\",\" \")","v":" "},null,null,null,{"$f":"IF(G35>15,\"Term of lease cannot exceed 15 years\",\" \")","v":" "}]
[null,"Term of the lease (years) - - - - - - - - - - - - - - - - - - - - - - - -"]
[null,"Number of years to be analyzed - - - - - - - - - - - - - - - - - - -",null,null,null,null,null,null,null,null,null,"To go to results menu"]
[null,"Residual value of the asset at the end of the lease period - - -"]
[null,"Refundable deposit required with lease - - - - - - - - - -",null,null,null,"- - - - - - - -",null,{"$f":"IF(G37>E27,\"residual value exceeds\",\" \")","v":" "}]
[]
["If the analysis is to assume purchase of  leased asset at the end of the lease period",null,null,null,null,null,null," (BUY)",null,null,null,"To print all input data"]
[null,"Credit terms for purchase at end of the lease:"]
[null,"    Term (years)"]
[null,"    Interest rate (percent)",null,null,null,{"$f":"IF(E42>0,IF(OR(E43<4,E43>16),\"Interest deductibility not correctly handled for rates below 4% or above 16%\",\"  \"),\" \")","v":" "}]
[null,"    Payment per year",null,null,null,{"$f":"IF(E42>0,IF(OR(E44=1,E44=12),\"   \",\"Payments per year must be 1 or 12\"),\" \")","v":" "}]
[]
[null,"Investment tax credit on purchase at end of lease period",null,null,null,null,null,{"$f":"IF(G46>(G37*0.04),\"Investment tax credit exceeds 4% of residual value\",\" \")","v":" "},null,null,null,"To go back to main menu"]
[null,"Section 179 expense deduction with purchase at end of lease period"]
[]
["If the analysis is to assume sale of the purchased asset at the end of the lease period",null,null,null,null,null,null,"(SELL)"]
[null,null,null,null,null,null,null,null,null,null,null,"To go back to input menu"]
[null,"Term of the lease (number of years) - - - - - - - - - - - - - - - -"]
[null,"Residual value of the asset at the end of the lease period - - - "]
[null,null,null,null,{"$f":"IF(G52>E27,\"Residual value exceeds the purchase cost\",\"   \")","v":"   "}]
["Credit terms if the asset is purchased:",null,null,{"$f":"IF(D55=0,\"credit terms for the purchase option must be entered\",\" \")","v":"credit terms for the purchase option must be entered"},null,null,null,null,null,null,null,"To go to analysis menu"]
[null,"Term (years)",null,null,{"$f":"IF(AND(D55>15,D57<>0),\"15 years is the maximum acceptable for fixed rate loans\",\"   \")","v":"   "}]
[null,"Payments per year",null,null,{"$f":"IF(OR(D56=1,D56=12),\"   \",\"Payments per year must be 1 or 12\")","v":"Payments per year must be 1 or 12"}]
[null,"Interest rate (if fixed)",null,null,{"$f":"IF(AND(D57<>0,E59<>0),\"Both fixed and variable rates have been entered, fixed is used\",\"   \")","v":"   "}]
[null,"Expected interest rate (if variable)",null,null,"Years at these rates",null,null,null,null,null,null,"To go to results menu"]
[1,null,null,null,null,{"$f":"IF(OR(D57>16,C59>16,C60>16,C61>16,C62>16,C63>16,C64>16,C65>16),\"Interest deductibility is not correctly handled rates above 16%\",\"  \")","v":"  "}]
[2,null,null,null,null,{"$f":"IF(AND(SUM(E59:E65)<MIN(D55,15),D57=0),\"Number of years of interest rates must equal \",\"   \")","v":"Number of years of interest rates must equal "}]
[3,null,null,null,null,{"$f":"IF(AND(SUM(E59:E65)<MIN(D55,15),D57=0),\"or exceed  the term of the loan or 15\",\"   \")","v":"or exceed  the term of the loan or 15"}]
[4,null,null,null,null,null,null,null,null,null,null,"To print all input data"]
[5]
[6]
[7]
["Tax Rates"]
[null,"Marginal tax rates(enter in chronological order)"]
[null,null,null,"Self ",null,"Years at ",null,null,null,null,null,"To go back to main menu"]
[null,"Federal","State","employment",null,"these rates"]
[1]
[2,null,null,null,null,null,{"$f":"IF(SUM(F$70:F$76)<G$36,\"Tax data provided for fewer years\",\"   \")","v":"   "}]
[3,null,null,null,null,null,{"$f":"IF(SUM(F$70:F$76)<G$36,\"than analysis period\",\"   \")","v":"   "},null,null,null,null,"To go back to input menu"]
[4]
[5,null,null,null,null,null,{"$f":"IF(SUM(F$70:F$76)<G$51,\"Tax data provided for fewer years\",\"   \")","v":"   "}]
[6,null,null,null,null,null,{"$f":"IF(SUM(F$70:F$70)<G$51,\"than lease period\",\"   \")","v":"   "}]
[7,null,null,null,null,null,null,null,null,null,null,"To go to analysis menu"]
[]
["Cost of Capital",null,null,null,null,"Years at "]
[null,"Before tax opportunity cost of capital",null,null,null,"these rates"]
[1,null,null,null,null,null,null,null,null,null,null,"To go to results menu"]
[2,null,null,null,null,null,{"$f":"IF(SUM(F$80:F$86)<G$36,\"Rate data provided for fewer years\",\"   \")","v":"   "}]
[3,null,null,null,null,null,{"$f":"IF(SUM(F$80:F$86)<G$36,\"than analysis period\",\"   \")","v":"   "}]
[4]
[5,null,null,null,null,null,{"$f":"IF(SUM(F$80:F$86)<G$51,\"Rate data provided for fewer years\",\"   \")","v":"   "},null,null,null,null,"To print all input data"]
[6,null,null,null,null,null,{"$f":"IF(SUM(F$80:F$86)<G$51,\"than lease period\",\"   \")","v":"   "}]
[7]
[]
["Section 179 depreciation can be taken on other purchases because this item is leased:"]
[null,"Amount of Section 179 depreciation to be taken",null,null,null,null,null,{"$f":"IF(AND(F89<>0,H90=0),\"Depreciation period must be entered\",\"  \")","v":"  "}]
["          ","Years asset would otherwise be depreciated over(3,5,7,10,15 or 20)"]
[null,null,null,null,null,{"$f":"IF(AND(A!R172<>1,H90<>0),\"Inappropriate depreciation period selected\",\"   \")","v":"   "}]
[null,"********************************************",null,null,null,"End of Input of Data"]

{"sheet":"Definitions","index":8,"n_rows":136,"n_cols":1,"rows_kept":136,"cut":false,"hidden":false,"merged":[]}
["Lease analyzed. Enter the type of lease being considered. If more than one alternative is "]
["being considered, use this space to label each analysis differently. For example, "]
["analysis of three different sources of leases for a tractor might be labeled: (1) "]
["tractor - John Deere, (2) tractor - Telmark and (3) tractor - Farm Credit. Or, "]
["alternate sources of loan financing might be labeled: (1) tractor - Castile Bank or "]
["(2) tractor - Key Bank."]
[]
["Analysis conducted for: Enter the name of the person or firm for whom the analysis is "]
["being conducted. "]
[]
["Lease payment. Enter the total lease payments for each year. The advance lease payment "]
["is the amount required at the time the lease is initiated or delivered. Farmer "]
["Brown’s initial payment is $1,800. Since the first payment is made in advance, "]
["only 11 payments will be made in year 3 (11 x $1,800 = 19,800)."]
[]
["Costs saved (-), added (+) due to the lease. Enter any operating costs that would be saved "]
["with the lease that would be paid if the asset were purchased. Or, enter additional "]
["costs incurred because of the lease. Cost savings would include such things as "]
["insurance and repair costs that the lessor is paying so it results in reduced costs to "]
["the farmer. Added costs would include costs that the lessor required the farmer to "]
["pay, such as added insurance or preventive maintenance. Farmer Brown’s "]
["operating costs will not be changed by leasing. "]
[]
["Other ownership costs due to purchase. Enter any other operating or capital costs that are "]
["connected with ownership of the asset that are expected to be different for owning "]
["compared to leasing the asset. For example, with a cattle lease where "]
["replacements are provided by the lessor, purchased or raised replacements would "]
["be an added cost of ownership. Farmer Brown had no other costs. "]
[]
["Depreciation period. Enter the number of years over which the asset would be "]
["depreciated, if it were purchased. This would normally be the MACRS life for "]
["most assets. For example, three years for hogs; five years for breeding livestock, "]
["computers, light trucks and automobiles; seven years for machinery, storage bins "]
["and silos, 10 years for dairy and hog barns and 20 years for general purpose barns. "]
[]
["Section 179 expense deduction taken on purchase. Enter the amount of Section 179 "]
["expense deduction (depreciation) that will be available if this asset is purchased "]
["instead of leased. Include only the amount available for use with this asset. "]
[]
["Down Payment on loan for purchase option. Enter any down payment required for the "]
["loan under the purchase with financing alternative. "]
[]
["Purchase cost of the asset (including down payment). Enter the total cost of the asset. "]
["The amount of the down payment will be subtracted from this number to obtain "]
["the amount of the loan under the purchase with loan alternative. "]
[]
["Terminal value of the asset at the end of the analysis period. Enter the estimated "]
["value of the asset at the end of the number of years to be analyzed. This is "]
["often referred to as the salvage value of the asset at the end of its useful "]
["life on the farm when the number of years to be analyzed is equal to the "]
["useful life of the asset. "]
[]
["Investment tax credit with purchase. Enter the state investment tax credit earned by the "]
["investment, if it is purchased rather than leased. The program will automatically "]
["calculate recapture if the asset is sold before full investment tax credit is earned. "]
[]
["Term of the lease in years. Enter the number of years in which lease payments "]
["will be made, not counting the advance period as a year. Maximum "]
["number of years is 15. "]
[]
["Number of years to be analyzed. Enter the total number of years the asset will be "]
["held. This is usually set at the period of time the asset is expected to be "]
["kept if it is purchased. This could be set at the maximum of the lease "]
["period or the loan period, but a more accurate analysis is often obtained if "]
["it is set at the life of the asset on this farm. The maximum analysis period "]
["with the LEAP program is 15 years. "]
[]
["Residual value of the asset at the end of the lease period. Enter the residual value "]
["of the asset. This may be specified by the lease or it may be estimated. In "]
["some cases, this number can be very important in assessing a lease. If the "]
["number is estimated, be sure the number is approximately correct, or do "]
["some sensitivity analysis using alternate values. "]
[]
["Refundable deposit required with lease. Enter any deposit required at the initiation of the "]
["lease that will be returned at the end of the lease period. Do not include any "]
["deposit that will be applied toward payments. "]
[]
["The following items should be entered if the analysis is to assume purchase of the leased "]
["asset at the end of the lease period. This is what has been called the “Buy” option. "]
[]
["Credit terms for purchase at end of lease. Enter the loan terms that would be "]
["expected for financing the residual value when the asset is purchased at the "]
["end of the lease period. Enter the period of the loan in years. The loan "]
["period can extend beyond the number of years to be analyzed. Enter the "]
["interest rate as a percent, i.e. enter 8.5, not .085. Enter the number of "]
["payments per year. "]
[]
["Investment tax credit on purchase at the end of the lease period. Enter the "]
["investment tax credit that would be earned if the asset were purchased at "]
["the residual value listed above. The program will automatically calculate "]
["recapture if the asset is sold before full investment tax credit is earned. "]
[]
["Section 179 expense deduction with purchase at end of lease period. Enter the "]
["amount of Section 179 expense deduction (depreciation) that will be "]
["available for use on this asset in the year that the leased item would be "]
["purchased (after the lease period ends). Include only the amount available "]
["for use with this asset."]
[]
["The following items should be entered if the analysis is to assume sale of the purchased "]
["asset at the end of the lease period. This is what has been called the “Sell” option. "]
[]
["Credit terms for purchase analysis. Enter the loan terms that would be expected "]
["for financing the purchase of the asset, rather than leasing it at the outset. "]
["These credit terms will often differ from those described above for "]
["purchase of the residual value, because a (usually) new asset is being "]
["purchased, rather than a used asset. Enter the period of the loan in years. "]
["The loan period can extend beyond the number of years to be analyzed. "]
["Enter the interest rate as a percent, i.e. enter 8.5, not .085. Enter the "]
["number of payments per year. "]
[]
["Term of the lease in years. Enter the number of years in which lease payments "]
["will be made, not counting the advance period as a year. Maximum "]
["number of years is 15."]
[]
["Residual value of the asset at the end of the lease period. Enter the residual value "]
["of the asset. This may be specified by the lease or it may be estimated. In "]
["some cases, this number can be very important in assessing a lease. If the "]
["number is estimated, be sure the number is approximately correct, or do "]
["some sensitivity analysis using alternate values. "]
[]
["Credit terms for purchase of the asset. Enter the loan terms that would be "]
["expected for financing the purchase of the asset, rather than leasing it at "]
["the outset. Enter the period of the loan in years. The loan period can "]
["extend beyond the period of the lease. Enter the interest rate as a percent, "]
["i.e. enter 8.5, not .085. Enter the number of payments per year. "]
[]
["Marginal state tax rate. Enter the rate of state taxation that would be paid on one dollar "]
["more or less of income. "]
[]
["Marginal federal tax rate. Enter the rate of federal taxation that would be paid on one "]
["dollar more or less of income. "]
[]
["Marginal self employment tax rate. Enter the level of self employment tax that would be "]
["paid on one dollar more or less of income. This would be either the total self "]
["employment tax rate or the Medicare rate depending on the level of earned "]
["income. "]

{"sheet":"AnalysisBuy","index":9,"n_rows":70,"n_cols":22,"rows_kept":70,"cut":false,"hidden":false,"merged":[]}
[]
[]
[]
[]
[]
[{"$f":"A!J71","v":"Lease cost analysis - with purchase of the leased asset at the end of the lease"}]
[{"$f":"A!J72","v":"(Purchase of the asset at the end of the lease period is part of lease analysis)"}]
[]
[]
[null,null,{"$f":"A!L75","v":"LEASE COST ANALYSIS (TABLE  A)"}]
[null,null,null,null,null,null,null,null,{"$f":"A!Q76","v":"Year"}]
[{"$f":"A!J77","v":"Item"},null,null,{"$f":"A!M77","v":"Advance"},{"$f":"A!N77","v":1},{"$f":"A!O77","v":2},{"$f":"A!P77","v":3},null,{"$f":"A!Q77","v":4},{"$f":"A!R77","v":5},{"$f":"A!S77","v":6},{"$f":"A!T77","v":7},null,{"$f":"A!U77","v":8},{"$f":"A!V77","v":9},{"$f":"A!W77","v":10},{"$f":"A!X77","v":11},{"$f":"A!Y77","v":12},{"$f":"A!Z77","v":13},{"$f":"A!AA77","v":14},{"$f":"A!AB77","v":15}]
[]
[{"$f":"A!J79","v":"a. Lease payment"},null,null,{"$f":"A!M79","v":0},{"$f":"A!N79","v":0},{"$f":"A!O79","v":0},{"$f":"A!P79","v":0},null,{"$f":"A!Q79","v":0},{"$f":"A!R79","v":0},{"$f":"A!S79","v":0},{"$f":"A!T79","v":0},null,{"$f":"A!U79","v":0},{"$f":"A!V79","v":0},{"$f":"A!W79","v":0},{"$f":"A!X79","v":0},{"$f":"A!Y79","v":0},{"$f":"A!Z79","v":0},{"$f":"A!AA79","v":0},{"$f":"A!AB79","v":0}]
[{"$f":"A!J80","v":"b. Costs saved (-), added (+)"},null,null,{"$f":"A!M80","v":0},{"$f":"A!N80","v":0},{"$f":"A!O80","v":0},{"$f":"A!P80","v":0},null,{"$f":"A!Q80","v":0},{"$f":"A!R80","v":0},{"$f":"A!S80","v":0},{"$f":"A!T80","v":0},null,{"$f":"A!U80","v":0},{"$f":"A!V80","v":0},{"$f":"A!W80","v":0},{"$f":"A!X80","v":0},{"$f":"A!Y80","v":0},{"$f":"A!Z80","v":0},{"$f":"A!AA80","v":0},{"$f":"A!AB80","v":0}]
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[{"$f":"A!J42","v":"f. Dedutcitle ownership cost (c+d+e)"},null,null,{"$f":"A!M42","v":0},{"$f":"A!N42","v":0},{"$f":"A!O42","v":0},{"$f":"A!P42","v":0},{"$f":"A!Q42","v":0},{"$f":"A!R42","v":0},{"$f":"A!S42","v":0},null,{"$f":"A!T42","v":0},{"$f":"A!U42","v":0},{"$f":"A!V42","v":0},{"$f":"A!W42","v":0},{"$f":"A!X42","v":0},{"$f":"A!Y42","v":0},null,{"$f":"A!Z42","v":0},{"$f":"A!AA42","v":0},{"$f":"A!AB42","v":0}]
[{"$f":"A!J43","v":"g.  Residual value"}]
[{"$f":"A!J44","v":0},{"$f":"A!K44","v":"Total"},null,null,{"$f":"A!N44","v":0},{"$f":"A!O44","v":0},{"$f":"A!P44","v":0},{"$f":"A!Q44","v":0},{"$f":"A!R44","v":0},{"$f":"A!S44","v":0},null,{"$f":"A!T44","v":0},{"$f":"A!U44","v":0},{"$f":"A!V44","v":0},{"$f":"A!W44","v":0},{"$f":"A!X44","v":0},{"$f":"A!Y44","v":0},null,{"$f":"A!Z44","v":0},{"$f":"A!AA44","v":0},{"$f":"A!AB44","v":0}]
[{"$f":"A!J45","v":"h."},{"$f":"A!K45","v":"Undepreciated balance"},null,null,{"$f":"A!N45","v":0},{"$f":"A!O45","v":0},{"$f":"A!P45","v":0},{"$f":"A!Q45","v":0},{"$f":"A!R45","v":0},{"$f":"A!S45","v":0},null,{"$f":"A!T45","v":0},{"$f":"A!U45","v":0},{"$f":"A!V45","v":0},{"$f":"A!W45","v":0},{"$f":"A!X45","v":0},{"$f":"A!Y45","v":0},null,{"$f":"A!Z45","v":0},{"$f":"A!AA45","v":0},{"$f":"A!AB45","v":0}]
[{"$f":"A!J46","v":"i."},{"$f":"A!K46","v":"Taxable income"},null,null,{"$f":"A!N46","v":0},{"$f":"A!O46","v":0},{"$f":"A!P46","v":0},{"$f":"A!Q46","v":0},{"$f":"A!R46","v":0},{"$f":"A!S46","v":0},null,{"$f":"A!T46","v":0},{"$f":"A!U46","v":0},{"$f":"A!V46","v":0},{"$f":"A!W46","v":0},{"$f":"A!X46","v":0},{"$f":"A!Y46","v":0},null,{"$f":"A!Z46","v":0},{"$f":"A!AA46","v":0},{"$f":"A!AB46","v":0}]
[{"$f":"A!J47","v":"j."},{"$f":"A!K47","v":"Unpaid loan pricipal"},null,null,{"$f":"A!N47","v":0},{"$f":"A!O47","v":0},{"$f":"A!P47","v":0},{"$f":"A!Q47","v":0},{"$f":"A!R47","v":0},{"$f":"A!S47","v":0},null,{"$f":"A!T47","v":0},{"$f":"A!U47","v":0},{"$f":"A!V47","v":0},{"$f":"A!W47","v":0},{"$f":"A!X47","v":0},{"$f":"A!Y47","v":0},null,{"$f":"A!Z47","v":0},{"$f":"A!AA47","v":0},{"$f":"A!AB47","v":0}]
[{"$f":"A!J48","v":"k. Net tax deductible costs (f - i)"},null,null,{"$f":"A!M48","v":0},{"$f":"A!N48","v":0},{"$f":"A!O48","v":0},{"$f":"A!P48","v":0},{"$f":"A!Q48","v":0},{"$f":"A!R48","v":0},{"$f":"A!S48","v":0},null,{"$f":"A!T48","v":0},{"$f":"A!U48","v":0},{"$f":"A!V48","v":0},{"$f":"A!W48","v":0},{"$f":"A!X48","v":0},{"$f":"A!Y48","v":0},null,{"$f":"A!Z48","v":0},{"$f":"A!AA48","v":0},{"$f":"A!AB48","v":0}]
[{"$f":"A!J49","v":"l. Tax rate (decimal form)"},null,null,{"$f":"A!M49","v":0},{"$f":"A!N49","v":0},{"$f":"A!O49","v":0},{"$f":"A!P49","v":0},{"$f":"A!Q49","v":0},{"$f":"A!R49","v":0},{"$f":"A!S49","v":0},null,{"$f":"A!T49","v":0},{"$f":"A!U49","v":0},{"$f":"A!V49","v":0},{"$f":"A!W49","v":0},{"$f":"A!X49","v":0},{"$f":"A!Y49","v":0},null,{"$f":"A!Z49","v":0},{"$f":"A!AA49","v":0},{"$f":"A!AB49","v":0}]
[{"$f":"A!J50","v":"m Tax benefit (k x l)"},null,null,{"$f":"A!M50","v":0},{"$f":"A!N50","v":0},{"$f":"A!O50","v":0},{"$f":"A!P50","v":0},{"$f":"A!Q50","v":0},{"$f":"A!R50","v":0},{"$f":"A!S50","v":0},null,{"$f":"A!T50","v":0},{"$f":"A!U50","v":0},{"$f":"A!V50","v":0},{"$f":"A!W50","v":0},{"$f":"A!X50","v":0},{"$f":"A!Y50","v":0},null,{"$f":"A!Z50","v":0},{"$f":"A!AA50","v":0},{"$f":"A!AB50","v":0}]
[{"$f":"A!J51","v":"n. Net after tax cost (a+e-g+j-m)"},null,null,{"$f":"A!M51","v":0},{"$f":"A!N51","v":0},{"$f":"A!O51","v":0},{"$f":"A!P51","v":0},{"$f":"A!Q51","v":0},{"$f":"A!R51","v":0},{"$f":"A!S51","v":0},null,{"$f":"A!T51","v":0},{"$f":"A!U51","v":0},{"$f":"A!V51","v":0},{"$f":"A!W51","v":0},{"$f":"A!X51","v":0},{"$f":"A!Y51","v":0},null,{"$f":"A!Z51","v":0},{"$f":"A!AA51","v":0},{"$f":"A!AB51","v":0}]
[{"$f":"A!J52","v":"o.  Investment tax credit"},null,null,null,{"$f":"A!N52","v":0}]
[{"$f":"A!J53","v":"p. Investment credit recapture"},null,null,null,{"$f":"A!N53","v":0},{"$f":"A!O53","v":0},{"$f":"A!P53","v":0},{"$f":"A!Q53","v":0},{"$f":"A!R53","v":0},{"$f":"A!S53","v":0},null,{"$f":"A!T53","v":0},{"$f":"A!U53","v":0},{"$f":"A!V53","v":0},{"$f":"A!W53","v":0},{"$f":"A!X53","v":0},{"$f":"A!Y53","v":0},null,{"$f":"A!Z53","v":0},{"$f":"A!AA53","v":0},{"$f":"A!AB53","v":0}]
[{"$f":"A!J54","v":"q.  Total cost (n-o+p)"},null,null,{"$f":"A!M54","v":0},{"$f":"A!N54","v":0},{"$f":"A!O54","v":0},{"$f":"A!P54","v":0},{"$f":"A!Q54","v":0},{"$f":"A!R54","v":0},{"$f":"A!S54","v":0},null,{"$f":"A!T54","v":0},{"$f":"A!U54","v":0},{"$f":"A!V54","v":0},{"$f":"A!W54","v":0},{"$f":"A!X54","v":0},{"$f":"A!Y54","v":0},null,{"$f":"A!Z54","v":0},{"$f":"A!AA54","v":0},{"$f":"A!AB54","v":0}]
[{"$f":"A!J55","v":"r. P.V. Factor (after tax - Table 3)"},null,null,{"$f":"A!M55","v":1},{"$f":"A!N55","v":1},{"$f":"A!O55","v":1.01},{"$f":"A!P55","v":1},{"$f":"A!Q55","v":1},{"$f":"A!R55","v":1},{"$f":"A!S55","v":1},null,{"$f":"A!T55","v":1},{"$f":"A!U55","v":1},{"$f":"A!V55","v":1},{"$f":"A!W55","v":1},{"$f":"A!X55","v":1},{"$f":"A!Y55","v":1},null,{"$f":"A!Z55","v":1},{"$f":"A!AA55","v":1},{"$f":"A!AB55","v":1}]
[{"$f":"A!J56","v":"s.  Net present value (q x r)"},null,null,{"$f":"A!M56","v":0},{"$f":"A!N56","v":0},{"$f":"A!O56","v":0},{"$f":"A!P56","v":0},{"$f":"A!Q56","v":0},{"$f":"A!R56","v":0},{"$f":"A!S56","v":0},null,{"$f":"A!T56","v":0},{"$f":"A!U56","v":0},{"$f":"A!V56","v":0},{"$f":"A!W56","v":0},{"$f":"A!X56","v":0},{"$f":"A!Y56","v":0},null,{"$f":"A!Z56","v":0},{"$f":"A!AA56","v":0},{"$f":"A!AB56","v":0}]
[{"$f":"A!J57","v":"t.  Total net present value of costs"},null,null,null,null,{"$f":"A!O57","v":0}]

{"sheet":"ResultsBuy","index":11,"n_rows":23,"n_cols":11,"rows_kept":23,"cut":false,"hidden":false,"merged":[[1,10,4,16],[5,10,8,16],[9,10,12,16],[13,10,16,16],[17,10,20,16]]}
[null,null,null,{"$f":"A!D152","v":"Results Summary (Buy)"}]
[null,null,null,null,null,null,null,null,null,null,"To go back to main menu"]
[{"$f":"A!A154","v":"Analysis conducted for:"},null,{"$f":"A!C154","v":0},null,{"$f":"A!E154","v":"Lease analyzed is a: "},null,{"$f":"A!G154","v":0}]
[]
[null,{"$f":"A!B156","v":"    This analysis compared leasing the asset for a period of"},null,null,null,null,{"$f":"A!G156","v":0},{"$f":"A!H156","v":"years,"}]
[null,{"$f":"A!B157","v":"      followed by purchase of the asset for a residual value of"},null,null,null,null,{"$f":"A!G157","v":0},{"$f":"A!H157","v":"dollars, "},null,null,"To go to input menu"]
[null,{"$f":"A!B158","v":"      financed over"},null,{"$f":"A!D158","v":0},{"$f":"A!E158","v":" years, with interest at"},null,{"$f":"A!G158","v":0},{"$f":"A!H158","v":"percent"}]
[null,{"$f":"A!B159","v":"      to purchase of the asset for"},null,null,{"$f":"A!E159","v":0},{"$f":"A!F159","v":"dollars, financed over a"}]
[null,{"$f":"A!B160","v":"      total of"},{"$f":"A!C160","v":0},{"$f":"A!D160","v":"years, with interest at"},null,{"$f":"A!F160","v":0},{"$f":"A!G160","v":"            to"},{"$f":"A!H160","v":0},{"$f":"A!I160","v":"percent."}]
[null,{"$f":"A!B161","v":"      The total analysis period was"},null,null,{"$f":"A!E161","v":0},{"$f":"A!F161","v":"years."},null,null,null,null,"To go to buy analysis"]
[]
[null,{"$f":"A!B163","v":"     Use of leasing allowed a total of"},null,null,{"$f":"A!E163","v":0},{"$f":"A!F163","v":"dollars of other non leased assets"}]
[null,{"$f":"A!B164","v":"     to be depreciated using Section 179 rather than being depreciated"}]
[null,{"$f":"A!B165","v":"     depreciated over"},null,{"$f":"A!D165","v":0},{"$f":"A!E165","v":"years using the 150% declining method."},null,null,null,null,null,"To go to sell results"]
[]
[]
[{"$f":"A!A168","v":"The results are:"},null,{"$f":"A!C168","v":"Present value of cost with purchase"},null,null,null,{"$f":"A!G168","v":0}]
[null,null,{"$f":"A!C169","v":"Present value of net costs of leasing"},null,null,null,{"$f":"A!G169","v":0},null,null,null,"To print all input data"]
[null,null,{"$f":"A!C170","v":"Savings from not losing section 179 depreciation"}]
[null,null,{"$f":"A!C171","v":"        on other assets as a result of leasing"},null,null,null,{"$f":"A!G171","v":0}]
[null,null,{"$f":"A!C172","v":"Savings (or loss) with leasing"},null,null,null,{"$f":"A!G172","v":0}]
[]
[{"$f":"A!A174","v":"The lease is less costly than purchase with financing."}]

{"sheet":"ResultsSell","index":12,"n_rows":22,"n_cols":11,"rows_kept":22,"cut":false,"hidden":false,"merged":[[1,10,4,16],[5,10,8,16],[9,10,12,16],[13,10,16,16],[17,10,20,16]]}
[null,null,null,{"$f":"A!D184","v":"Results Summary (Sell)"}]
[null,null,null,null,null,null,null,null,null,null,"To go back to main menu"]
[{"$f":"A!A186","v":"Analysis conducted for:"},null,{"$f":"A!C186","v":0},null,{"$f":"A!E186","v":"Lease analyzed is a:"},null,{"$f":"A!G186","v":0}]
[]
[null,{"$f":"A!B188","v":"      This analysis compared leasing the asset for a period of"},null,null,null,null,{"$f":"A!G188","v":0},{"$f":"A!H188","v":"years,"}]
[null,{"$f":"A!B189","v":"      to purchase of the asset for"},null,null,{"$f":"A!E189","v":0},{"$f":"A!F189","v":"dollars, financed over a"},null,null,null,null,"To go to input menu"]
[null,{"$f":"A!B190","v":"      total of"},{"$f":"A!C190","v":0},{"$f":"A!D190","v":"years, with interest at"},null,{"$f":"A!F190","v":0},{"$f":"A!G190","v":"             to"},{"$f":"A!H190","v":0},{"$f":"A!I190","v":"percent."}]
[null,{"$f":"A!B191","v":"      and sale of the asset at the end of a"},null,null,{"$f":"A!E191","v":0},{"$f":"A!F191","v":"year period for "}]
[null,{"$f":"A!B192","v":"      a residual value of"},null,{"$f":"A!D192","v":0},{"$f":"A!E192","v":"dollars."}]
[null,null,null,null,null,null,null,null,null,null,"To go to sell analysis"]
[null,{"$f":"A!B194","v":"     Use of leasing allowed a total of"},null,null,{"$f":"A!E194","v":0},{"$f":"A!F194","v":"dollars of other non leased assets"}]
[null,{"$f":"A!B195","v":"     to be depreciated using Section 179 rather than being depreciated"}]
[null,{"$f":"A!B196","v":"     depreciated over"},null,{"$f":"A!D196","v":0},{"$f":"A!E196","v":"years using the 150% declining method."}]
[null,null,null,null,null,null,null,null,null,null,"To go to buy results"]
[]
[{"$f":"A!A199","v":"The results are:"},null,{"$f":"A!C199","v":"Present value of cost with purchase"},null,null,null,{"$f":"A!G199","v":0}]
[null,null,{"$f":"A!C200","v":"Present value of net costs of leasing"},null,null,null,{"$f":"A!G200","v":0}]
[null,null,{"$f":"A!C201","v":"Savings from not losing section 179 depreciation"},null,null,null,null,null,null,null,"To print all input data"]
[null,null,{"$f":"A!C202","v":"        on other assets as a result of leasing"},null,null,null,{"$f":"A!G202","v":0}]
[null,null,{"$f":"A!C203","v":"Savings (or loss) with leasing"},null,null,null,{"$f":"A!G203","v":0}]
[]
[{"$f":"A!A205","v":"The lease is less costly than purchase with financing."}]