Year No.   1 2 3 4 5 Totals
Year   2008 2009 2010 2011 2012  
Cumulative Units Sold, Start of Year   0 0 0 0 0 20
Units Sold During Year   0 0 0 0 20 20
Avg. Anticipated Retail Price/Unit   $77,000 $84,700 $93,170 $102,487 $112,736  
               
TOTAL SELLOUT REVENUES   $0 $0 $0 $0 $2,254,714 $2,254,714
               
SELLOUT EXPENSES              
Selling Commissions 5.0% $0 $0 $0 $0 $112,736 $112,736
Admin., Taxes & Closing Costs 1.0% $0 $0 $0 $0 $22,547 $22,547
Total Selling Expenses   $0 $0 $0 $0 $135,283 $135,283
               
NET SALE PROCEEDS   $0 $0 $0 $0 $2,119,431 $2,119,431
               
NET RENTAL INCOME $6,783 $135,660 $149,226 $149,226 $149,226 $149,226 $732,564
LESS: OPERATING EXPENSES $2,713 $54,253 $59,678 $59,678 $59,678 $59,678 $292,965
NET OPERATING INCOME   $81,407 $89,548 $89,548 $89,548 $89,548 $439,599
               
NET CASH FLOW (US Dollars   $81,407 $89,548 $89,548 $89,548 $2,208,979 $2,559,030
Exchange Rate   0.640 0.704 0.774 0.852 0.937  
NET CASH FLOW (Euros)   €52,101 €63,042 €69,346 €76,281 €2,069,866 €2,330,635
               
INTERNAL RATE OF RETURN (IRR) US Dollars 11.9%            
INTERNAL RATE OF RETURN (IRR) Euros 20.5%