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{{#Wiki_filter:Datasheet 1Signature: Michael Purdie and JoAnn SimpsonDate: 06/24/2011 Secondary Review: Kosmas Lois 6/29/2011Spreadsheet created by: Aaron Szabo, Shawn HarwellFormulas verified by: Clayton Pittiglio 1 2% Owned:Category:90.00%210.00%1 3 42.00%2.00%N Y N 5 6Any modifications to a licensee's method of providing decommissioning funding assurance? (Y/N) 7 1 Per PPL, the previous report credited collections and utilized inflation and earnings rates based on an order entered by the Pennsylvania PUC on 9/27/1995 at Docket No. R-00943271. The annual collections permitted under this order ceased at the end of 2009. In addition, the previous report provided an analysis crediting earnings through a SAFSTOR period, which is no longer necessary as the current funding is sufficient for immediate DECON.Per AEC, they have all required contracts in place from the 14 cooperatives that fund the trust fund.Plant name:Susquehanna Steam Electric Station, Unit 2Rates Determined (Y/N)Rate(s) of Other Factors$349,379,109 50-388RAI Needed (Y/N)PUC Verified (Y/N)$23,812,636providedDocket Number:Did the licensee identify the amount of estimated radiological funds? (Y/N)The minimum financial assurance (MFA) estimate pursuant to 10 CFR 50.75(b) & (c):Escalation RateIf a change has occurred, the reviewer will document on this sheet that a change has  occurred and identify the reviewer who will evaluate the change: (see below)Amount in Trust Fund:Allegheny Electric CooperativePPL Susquehanna, LLC Y$628,425,000The total amount of dollars accumulated at the end of the appropriate year: (see below)
{{#Wiki_filter:Datasheet 1 Plant name:                     Susquehanna Steam Electric Station, Unit 2                                                      Docket Number:                                   50-388 1    The minimum financial assurance (MFA) estimate pursuant to 10 CFR 50.75(b) & (c):                                                                       $628,425,000 Did the licensee identify the amount of estimated radiological funds? (Y/N)                                                                      Y 2                   The total amount of dollars accumulated at the end of the appropriate year: (see below)
NAssumptions used in determining rates of escalation in decommissioning costs, rates of earnings on decommissioning funds, and rates of other factors used in funding projections: (see below)Any contracts upon which the licensee is relying? (Y/N)Schedule of the annual amounts remaining to be collected: (provided/none)Rate of Return on EarningsAllowed through Decom (Y/N)Real Rate of ReturnPUC Verified (Y/N)Allowed through Decom (Y/N)Licensee:$325,566,473 NAny material changes to trust agreements? (Y/N)
Licensee:              % Owned: Category:                       Amount in Trust Fund:
Y 1Post-RAITotal Trust Fund Balance Datasheet 2Signature: Michael Purdie and JoAnn SimpsonDate: 06/24/2011 Secondary Review: Kosmas Lois 6/29/2011Spreadsheet created by: Aaron Szabo, Shawn HarwellFormulas verified by: Clayton PittiglioMonth:12 3BWR 3952$135,000,000113.62.160.652.451.676191.4114.23.049250.082.00.132.3070.2212.54% Owned:Category90.00%210.00%1 2%33.23See Annuity SheetSee Annuity Sheet 2%7$848,112,155 NOShortfall:YESDoes Licensee Pass:Does Licensee Pass:YESTotal of Steps 1 thru 3:see annuity sheetNumber of Annual Payments:Accumulation:Step 2:Earnings Credit:$349,379,109Decom Period:See Total Step 2Total AnnuityReal Rate of Return per yearTotal Fund Balance:$349,379,109Total Step 1 + Step 2$789,424,128$58,688,027Total Earnings for Decom:Decom Period:Total Earnings:Real Rate of Return per yearLatest Month PxAmount of NRC Minimum/Site Specific:BWR/PWRMWthPPL Susquehanna, LLCAllegheny Electric Cooperative$62,825,176Total Annuity:Step 3:$23,812,636$325,566,473Amount in Trust Fund:$114,796,463Total Earnings:$674,627,666Real Rate of Return per year FxSite Specific:Total Step 2:Years Left in LicenseN/AReal Rate of Return per yearDoes Licensee Pass:YESSee Total Step 2$789,424,128Years remaining after annuity Px50-3882331Termination of Operations:2044 1986$DayBase FxPlant name:Value of Annuity per year (amount/See Annuity Sheet)Licensee:$565,426,587NRC Minimum:$628,251,763Trust Fund Balance:Step 1: Bx Ex LxECIBase LxBase Px2010Year:Susquehanna Steam Electric Station, Unit 2Docket Number:Date of Operation:Latest Month Fx Datasheet 2Signature: Michael Purdie and JoAnn SimpsonDate: 06/24/2011 Secondary Review: Kosmas Lois 6/29/2011Spreadsheet created by: Aaron Szabo, Shawn HarwellFormulas verified by: Clayton PittiglioMonth:12 350-3882331Termination of Operations:2044DayPlant name:2010Year:Susquehanna Steam Electric Station, Unit 2Docket Number:Date of Operation:2.00%33.23See Annuity SheetSee Annuity Sheet2.00%7Real Rate of Return per yearAccumulation:Value of Annuity per year$349,379,109Total Annuity:Number of Annual Payments:Step 5:Real Rate of Return per yearTotal Earnings:$674,627,666YESIf licensee is granted greater than 2% RRRYES$58,688,027Total Step 5Total of Steps 4 thru 6:$848,112,155Does Licensee Pass:Total Earnings:N/A 0$789,424,128see annuity sheetSee Total Step 4Decom Period:Step 6:$789,424,128See Total Step 4Does Licensee Pass:Real Rate of Return per yearYESTotal Step 4 + Step 5Total Earnings for Decom:Decom Period:Total AnnuityDoes Licensee Pass:Trust Fund Balance:Years Left in LicenseShortfall:
PPL Susquehanna, LLC            90.00%         2                            $325,566,473 Allegheny Electric Cooperative      10.00%         1                             $23,812,636 Total Trust Fund Balance        $349,379,109 3     Schedule of the annual amounts remaining to be collected: (provided/none)                                                                                 provided 4    Assumptions used in determining rates of escalation in decommissioning costs, rates of earnings on decommissioning funds, and rates of other factors used in funding projections: (see below)
NOReal Rate of Return per yearYears remaining after annuity$114,796,463Earnings Credit:Step 4:
Post-RAI Rate of                          Rate(s) of                  PUC                                        RAI        PUC       Allowed        Rates Real Rate                    Allowed through Decom Return on      Escalation Rate        Other                  Verified                                    Needed      Verified    through      Determined of Return                            (Y/N)
Datasheet 2Signature: Michael Purdie and JoAnn SimpsonDate: 06/24/2011 Signature: Kosmas LoisDate: 6/29/2011Spreadsheet created by: Aaron Szabo, Shawn HarwellFormulas verified by: Clayton Pittiglio 3 23 2044YearAnnuity: 2011$1,297,000 2%$2,504,499 2012$1,348,880 2%$2,553,607 2013$1,402,835 2%$2,603,678 2014$1,458,949 2%$2,654,731 2015$1,571,307 2%$2,803,118 2016$1,577,999 2%$2,759,859 2017$1,641,119 2%$2,813,973 2018$1,706,764 2%$2,869,150 2019$1,775,034 2%$2,925,407 2020$1,846,035 2%$2,982,767 2021$1,919,877 2%$3,041,254 2022$1,996,672 2%$3,100,886 2023$2,076,539 2%$3,161,688 2024$2,159,600 2%$3,223,681 2025$2,245,984 2%$3,286,890 2026$2,335,824 2%$3,351,340 2027$2,429,257 2%$3,417,053 2028$2,526,427 2%$3,484,053 2029$2,627,484 2%$3,552,368 2030$2,732,583 2%$3,622,022 2031$2,841,887 2%$3,693,043 2032$2,955,562 2%$3,765,455 2033$3,073,785 2%$3,839,288 2034$3,196,736 2%$3,914,567 2035$3,324,606 2%$3,991,324 2036$3,457,590 2%$4,069,585 2037$3,595,893 2%$4,149,380 2038$3,739,729 2%$4,230,741 2039$3,889,318 2%$4,313,697 2040$4,044,891 2%$4,398,279 2041$4,206,687 2%$4,484,520 2042$4,374,954 2%$4,572,452 2043$4,549,952 2%$4,662,107 2044 2%$0Total:$114,796,463ANNUITYTotal AccumulationTermination of Operations:Real Rate of Return:
Earnings                            Factors                    (Y/N)                                      (Y/N)      (Y/N)    Decom (Y/N)      (Y/N) 2.00%                                          2.00%          N                    Y                    N 5    Any contracts upon which the licensee is relying? (Y/N)                                                                                                        N 6    Any modifications to a licensee's method of providing decommissioning funding assurance? (Y/N)                                                                Y1 7    Any material changes to trust agreements? (Y/N)                                                                                                               N If a change has occurred, the reviewer will document on this sheet that a change has occurred and identify the reviewer who will evaluate the change: (see below) 1 Per PPL, the previous report credited collections and utilized inflation and earnings rates based on an order entered by the Pennsylvania PUC on 9/27/1995 at Docket No. R-00943271. The annual collections permitted under this order ceased at the end of 2009. In addition, the previous report provided an analysis crediting earnings through a SAFSTOR period, which is no longer necessary as the current funding is sufficient for immediate DECON.
Datasheet 2Signature: Michael Purdie and JoAnn SimpsonDate: 06/24/2011 Signature: Kosmas LoisDate: 6/29/2011Spreadsheet created by: Aaron Szabo, Shawn HarwellFormulas verified by: Clayton Pittiglio 3 23 2044ANNUITYTermination of Operations:YearAnnuity: 2011$1,297,0002.00%$2,504,499 2012$1,348,8802.00%$2,553,607 2013$1,402,8352.00%$2,603,678 2014$1,458,9492.00%$2,654,731 2015$1,571,3072.00%$2,803,118 2016$1,577,9992.00%$2,759,859 2017$1,641,1192.00%$2,813,973 2018$1,706,7642.00%$2,869,150 2019$1,775,0342.00%$2,925,407 2020$1,846,0352.00%$2,982,767 2021$1,919,8772.00%$3,041,254 2022$1,996,6722.00%$3,100,886 2023$2,076,5392.00%$3,161,688 2024$2,159,6002.00%$3,223,681 2025$2,245,9842.00%$3,286,890 2026$2,335,8242.00%$3,351,340 2027$2,429,2572.00%$3,417,053 2028$2,526,4272.00%$3,484,053 2029$2,627,4842.00%$3,552,368 2030$2,732,5832.00%$3,622,022 2031$2,841,8872.00%$3,693,043 2032$2,955,5622.00%$3,765,455 2033$3,073,7852.00%$3,839,288 2034$3,196,7362.00%$3,914,567 2035$3,324,6062.00%$3,991,324 2036$3,457,5902.00%$4,069,585 2037$3,595,8932.00%$4,149,380 2038$3,739,7292.00%$4,230,741 2039$3,889,3182.00%$4,313,697 2040$4,044,8912.00%$4,398,279 2041$4,206,6872.00%$4,484,520 2042$4,374,9542.00%$4,572,452 2043$4,549,9522.00%$4,662,107 2044$02.00%$0Total:$114,796,463If licensee is granted greater than 2% RRRReal Rate of Return:Total Accumulation}}
Per AEC, they have all required contracts in place from the 14 cooperatives that fund the trust fund.
Signature: Michael Purdie and JoAnn Simpson Date: 06/24/2011                                                                                                                                      Spreadsheet created by: Aaron Szabo, Shawn Harwell Secondary Review: Kosmas Lois 6/29/2011                                                                                                                              Formulas verified by: Clayton Pittiglio
 
Datasheet 2 Plant name:                         Susquehanna Steam Electric Station, Unit 2                                      Docket Number:                50-388 Month:                Day                    Year:
Date of Operation:                                            12                  31                      2010 Termination of Operations:                                            3                  23                      2044 Latest                  Latest BWR/PWR                  MWth                  1986$             ECI      Base Lx                      Lx          Px                Base Px    Fx            Base Fx      Ex                        Bx Month Px                Month Fx BWR                    3952              $135,000,000        113.6        2.16        0.65        2.45        1.676        191.4  114.2    3.049  250.0    82.0  0.13 2.307        0.22        12.54 NRC Minimum:                                       $628,251,763                                Site Specific:
Amount of NRC Minimum/Site Licensee:                    % Owned:        Category                  Specific:               Amount in Trust Fund:
PPL Susquehanna, LLC                    90.00%             2                   $565,426,587                    $325,566,473 Allegheny Electric Cooperative              10.00%             1                    $62,825,176                    $23,812,636 Total Fund Balance:         $349,379,109 Step 1:
Earnings Credit:
Real Rate of Return Years Left Trust Fund Balance:                 per year      in License      Total Earnings:         Does Licensee Pass:
              $349,379,109                        2%            33.23          $674,627,666                  YES Step 2:
Accumulation:
Value of Annuity per year (amount/See Real Rate of Return       Number of Annual Annuity Sheet)                    per year              Payments:               Total Annuity:
see annuity sheet              See Annuity Sheet                                See Total Step 2 Real Rate of Return Years remaining after Total Annuity                    per year               annuity                Total Step 2:
See Total Step 2               See Annuity Sheet            N/A                  $114,796,463 Total Step 1 + Step 2    Does Licensee Pass:
                                                                                              $789,424,128                  YES Step 3:
Decom Period:
Real Rate of Return  Decom        Total Earnings for Total Earnings:                  per year         Period:          Decom:
              $789,424,128                        2%              7            $58,688,027 Total of Steps 1 thru 3:   Does Licensee Pass:     Shortfall:
                                                                                              $848,112,155                  YES                NO Signature: Michael Purdie and JoAnn Simpson Date: 06/24/2011                                                                                                                                                                 Spreadsheet created by: Aaron Szabo, Shawn Harwell Secondary Review: Kosmas Lois 6/29/2011                                                                                                                                                        Formulas verified by: Clayton Pittiglio
 
Datasheet 2 Plant name:                           Susquehanna Steam Electric Station, Unit 2                                    Docket Number:     50-388 Month:                Day                    Year:
Date of Operation:                                             12                  31                      2010 Termination of Operations:                                            3                  23                      2044 If licensee is granted greater than 2% RRR Step 4:
Earnings Credit:
Real Rate of Return Years Left Trust Fund Balance:                     per year     in License      Total Earnings:        Does Licensee Pass:
              $349,379,109                        2.00%          33.23          $674,627,666                  YES Step 5:
Accumulation:
Real Rate of Return   Number of Annual Value of Annuity per year                  per year            Payments:              Total Annuity:
see annuity sheet              See Annuity Sheet              0                See Total Step 4 Real Rate of Return  Years remaining after Total Annuity                      per year              annuity                Total Step 5 See Total Step 4                See Annuity Sheet            N/A                 $114,796,463 Total Step 4 + Step 5    Does Licensee Pass:
                                                                                              $789,424,128                  YES Step 6:
Decom Period:
Real Rate of Return   Decom        Total Earnings for Total Earnings:                     per year      Period:           Decom:
              $789,424,128                        2.00%            7            $58,688,027 Total of Steps 4 thru 6:  Does Licensee Pass: Shortfall:
                                                                                              $848,112,155                  YES          NO Signature: Michael Purdie and JoAnn Simpson Date: 06/24/2011                                                                                                                                           Spreadsheet created by: Aaron Szabo, Shawn Harwell Secondary Review: Kosmas Lois 6/29/2011                                                                                                                                  Formulas verified by: Clayton Pittiglio
 
Datasheet 2 ANNUITY Termination of Operations:                  3             23 2044 Real Rate    Total Year          Annuity:     of Return: Accumulation 2011        $1,297,000         2%       $2,504,499 2012       $1,348,880         2%       $2,553,607 2013       $1,402,835         2%       $2,603,678 2014       $1,458,949         2%       $2,654,731 2015       $1,571,307         2%       $2,803,118 2016       $1,577,999         2%       $2,759,859 2017       $1,641,119         2%       $2,813,973 2018       $1,706,764         2%       $2,869,150 2019       $1,775,034         2%       $2,925,407 2020       $1,846,035         2%       $2,982,767 2021       $1,919,877         2%       $3,041,254 2022       $1,996,672         2%       $3,100,886 2023       $2,076,539         2%       $3,161,688 2024       $2,159,600         2%       $3,223,681 2025       $2,245,984         2%       $3,286,890 2026       $2,335,824         2%       $3,351,340 2027       $2,429,257         2%       $3,417,053 2028       $2,526,427         2%       $3,484,053 2029       $2,627,484         2%       $3,552,368 2030       $2,732,583         2%       $3,622,022 2031       $2,841,887         2%       $3,693,043 2032       $2,955,562         2%       $3,765,455 2033       $3,073,785         2%       $3,839,288 2034       $3,196,736         2%       $3,914,567 2035       $3,324,606         2%       $3,991,324 2036       $3,457,590         2%       $4,069,585 2037       $3,595,893         2%       $4,149,380 2038       $3,739,729         2%       $4,230,741 2039       $3,889,318         2%       $4,313,697 2040       $4,044,891         2%       $4,398,279 2041       $4,206,687         2%       $4,484,520 2042       $4,374,954         2%       $4,572,452 2043       $4,549,952         2%       $4,662,107 2044                           2%           $0 Total:     $114,796,463 Signature: Michael Purdie and JoAnn Simpson Date: 06/24/2011 Signature: Kosmas Lois                                          Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 6/29/2011                                                                Formulas verified by: Clayton Pittiglio
 
Datasheet 2 ANNUITY Termination of Operations:                    3             23 2044 If licensee is granted greater than 2% RRR Real Rate        Total Year          Annuity:      of Return: Accumulation 2011         $1,297,000        2.00%       $2,504,499 2012         $1,348,880        2.00%       $2,553,607 2013         $1,402,835        2.00%       $2,603,678 2014         $1,458,949        2.00%       $2,654,731 2015         $1,571,307        2.00%       $2,803,118 2016         $1,577,999        2.00%       $2,759,859 2017         $1,641,119        2.00%       $2,813,973 2018         $1,706,764        2.00%       $2,869,150 2019         $1,775,034        2.00%       $2,925,407 2020         $1,846,035        2.00%       $2,982,767 2021         $1,919,877        2.00%       $3,041,254 2022         $1,996,672        2.00%       $3,100,886 2023         $2,076,539        2.00%       $3,161,688 2024         $2,159,600        2.00%       $3,223,681 2025         $2,245,984        2.00%       $3,286,890 2026         $2,335,824        2.00%       $3,351,340 2027         $2,429,257        2.00%       $3,417,053 2028         $2,526,427        2.00%       $3,484,053 2029         $2,627,484        2.00%       $3,552,368 2030         $2,732,583        2.00%       $3,622,022 2031         $2,841,887        2.00%       $3,693,043 2032         $2,955,562        2.00%       $3,765,455 2033         $3,073,785        2.00%       $3,839,288 2034         $3,196,736        2.00%       $3,914,567 2035         $3,324,606        2.00%       $3,991,324 2036         $3,457,590        2.00%       $4,069,585 2037         $3,595,893        2.00%       $4,149,380 2038         $3,739,729        2.00%       $4,230,741 2039         $3,889,318        2.00%       $4,313,697 2040         $4,044,891        2.00%       $4,398,279 2041         $4,206,687        2.00%       $4,484,520 2042         $4,374,954        2.00%       $4,572,452 2043         $4,549,952        2.00%       $4,662,107 2044             $0            2.00%           $0 Total:     $114,796,463 Signature: Michael Purdie and JoAnn Simpson Date: 06/24/2011 Signature: Kosmas Lois                                              Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 6/29/2011                                                                    Formulas verified by: Clayton Pittiglio}}

Latest revision as of 15:34, 12 November 2019

2010 DFS Report Analysis for Susquehanna Steam Electric Station, Unit 2
ML112371918
Person / Time
Site: Susquehanna Talen Energy icon.png
Issue date: 11/14/2011
From: Szabo A
Division of Inspection and Regional Support
To:
Szabo, A L, NRR/DPR, 415-1985
References
Download: ML112371918 (5)
v • d • e


Text

Datasheet 1 Plant name: Susquehanna Steam Electric Station, Unit 2 Docket Number: 50-388 1 The minimum financial assurance (MFA) estimate pursuant to 10 CFR 50.75(b) & (c): $628,425,000 Did the licensee identify the amount of estimated radiological funds? (Y/N) Y 2 The total amount of dollars accumulated at the end of the appropriate year: (see below)

Licensee:  % Owned: Category: Amount in Trust Fund:

PPL Susquehanna, LLC 90.00% 2 $325,566,473 Allegheny Electric Cooperative 10.00% 1 $23,812,636 Total Trust Fund Balance $349,379,109 3 Schedule of the annual amounts remaining to be collected: (provided/none) provided 4 Assumptions used in determining rates of escalation in decommissioning costs, rates of earnings on decommissioning funds, and rates of other factors used in funding projections: (see below)

Post-RAI Rate of Rate(s) of PUC RAI PUC Allowed Rates Real Rate Allowed through Decom Return on Escalation Rate Other Verified Needed Verified through Determined of Return (Y/N)

Earnings Factors (Y/N) (Y/N) (Y/N) Decom (Y/N) (Y/N) 2.00% 2.00% N Y N 5 Any contracts upon which the licensee is relying? (Y/N) N 6 Any modifications to a licensee's method of providing decommissioning funding assurance? (Y/N) Y1 7 Any material changes to trust agreements? (Y/N) N If a change has occurred, the reviewer will document on this sheet that a change has occurred and identify the reviewer who will evaluate the change: (see below) 1 Per PPL, the previous report credited collections and utilized inflation and earnings rates based on an order entered by the Pennsylvania PUC on 9/27/1995 at Docket No. R-00943271. The annual collections permitted under this order ceased at the end of 2009. In addition, the previous report provided an analysis crediting earnings through a SAFSTOR period, which is no longer necessary as the current funding is sufficient for immediate DECON.

Per AEC, they have all required contracts in place from the 14 cooperatives that fund the trust fund.

Signature: Michael Purdie and JoAnn Simpson Date: 06/24/2011 Spreadsheet created by: Aaron Szabo, Shawn Harwell Secondary Review: Kosmas Lois 6/29/2011 Formulas verified by: Clayton Pittiglio

Datasheet 2 Plant name: Susquehanna Steam Electric Station, Unit 2 Docket Number: 50-388 Month: Day Year:

Date of Operation: 12 31 2010 Termination of Operations: 3 23 2044 Latest Latest BWR/PWR MWth 1986$ ECI Base Lx Lx Px Base Px Fx Base Fx Ex Bx Month Px Month Fx BWR 3952 $135,000,000 113.6 2.16 0.65 2.45 1.676 191.4 114.2 3.049 250.0 82.0 0.13 2.307 0.22 12.54 NRC Minimum: $628,251,763 Site Specific:

Amount of NRC Minimum/Site Licensee:  % Owned: Category Specific: Amount in Trust Fund:

PPL Susquehanna, LLC 90.00% 2 $565,426,587 $325,566,473 Allegheny Electric Cooperative 10.00% 1 $62,825,176 $23,812,636 Total Fund Balance: $349,379,109 Step 1:

Earnings Credit:

Real Rate of Return Years Left Trust Fund Balance: per year in License Total Earnings: Does Licensee Pass:

$349,379,109 2% 33.23 $674,627,666 YES Step 2:

Accumulation:

Value of Annuity per year (amount/See Real Rate of Return Number of Annual Annuity Sheet) per year Payments: Total Annuity:

see annuity sheet See Annuity Sheet See Total Step 2 Real Rate of Return Years remaining after Total Annuity per year annuity Total Step 2:

See Total Step 2 See Annuity Sheet N/A $114,796,463 Total Step 1 + Step 2 Does Licensee Pass:

$789,424,128 YES Step 3:

Decom Period:

Real Rate of Return Decom Total Earnings for Total Earnings: per year Period: Decom:

$789,424,128 2% 7 $58,688,027 Total of Steps 1 thru 3: Does Licensee Pass: Shortfall:

$848,112,155 YES NO Signature: Michael Purdie and JoAnn Simpson Date: 06/24/2011 Spreadsheet created by: Aaron Szabo, Shawn Harwell Secondary Review: Kosmas Lois 6/29/2011 Formulas verified by: Clayton Pittiglio

Datasheet 2 Plant name: Susquehanna Steam Electric Station, Unit 2 Docket Number: 50-388 Month: Day Year:

Date of Operation: 12 31 2010 Termination of Operations: 3 23 2044 If licensee is granted greater than 2% RRR Step 4:

Earnings Credit:

Real Rate of Return Years Left Trust Fund Balance: per year in License Total Earnings: Does Licensee Pass:

$349,379,109 2.00% 33.23 $674,627,666 YES Step 5:

Accumulation:

Real Rate of Return Number of Annual Value of Annuity per year per year Payments: Total Annuity:

see annuity sheet See Annuity Sheet 0 See Total Step 4 Real Rate of Return Years remaining after Total Annuity per year annuity Total Step 5 See Total Step 4 See Annuity Sheet N/A $114,796,463 Total Step 4 + Step 5 Does Licensee Pass:

$789,424,128 YES Step 6:

Decom Period:

Real Rate of Return Decom Total Earnings for Total Earnings: per year Period: Decom:

$789,424,128 2.00% 7 $58,688,027 Total of Steps 4 thru 6: Does Licensee Pass: Shortfall:

$848,112,155 YES NO Signature: Michael Purdie and JoAnn Simpson Date: 06/24/2011 Spreadsheet created by: Aaron Szabo, Shawn Harwell Secondary Review: Kosmas Lois 6/29/2011 Formulas verified by: Clayton Pittiglio

Datasheet 2 ANNUITY Termination of Operations: 3 23 2044 Real Rate Total Year Annuity: of Return: Accumulation 2011 $1,297,000 2% $2,504,499 2012 $1,348,880 2% $2,553,607 2013 $1,402,835 2% $2,603,678 2014 $1,458,949 2% $2,654,731 2015 $1,571,307 2% $2,803,118 2016 $1,577,999 2% $2,759,859 2017 $1,641,119 2% $2,813,973 2018 $1,706,764 2% $2,869,150 2019 $1,775,034 2% $2,925,407 2020 $1,846,035 2% $2,982,767 2021 $1,919,877 2% $3,041,254 2022 $1,996,672 2% $3,100,886 2023 $2,076,539 2% $3,161,688 2024 $2,159,600 2% $3,223,681 2025 $2,245,984 2% $3,286,890 2026 $2,335,824 2% $3,351,340 2027 $2,429,257 2% $3,417,053 2028 $2,526,427 2% $3,484,053 2029 $2,627,484 2% $3,552,368 2030 $2,732,583 2% $3,622,022 2031 $2,841,887 2% $3,693,043 2032 $2,955,562 2% $3,765,455 2033 $3,073,785 2% $3,839,288 2034 $3,196,736 2% $3,914,567 2035 $3,324,606 2% $3,991,324 2036 $3,457,590 2% $4,069,585 2037 $3,595,893 2% $4,149,380 2038 $3,739,729 2% $4,230,741 2039 $3,889,318 2% $4,313,697 2040 $4,044,891 2% $4,398,279 2041 $4,206,687 2% $4,484,520 2042 $4,374,954 2% $4,572,452 2043 $4,549,952 2% $4,662,107 2044 2% $0 Total: $114,796,463 Signature: Michael Purdie and JoAnn Simpson Date: 06/24/2011 Signature: Kosmas Lois Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 6/29/2011 Formulas verified by: Clayton Pittiglio

Datasheet 2 ANNUITY Termination of Operations: 3 23 2044 If licensee is granted greater than 2% RRR Real Rate Total Year Annuity: of Return: Accumulation 2011 $1,297,000 2.00% $2,504,499 2012 $1,348,880 2.00% $2,553,607 2013 $1,402,835 2.00% $2,603,678 2014 $1,458,949 2.00% $2,654,731 2015 $1,571,307 2.00% $2,803,118 2016 $1,577,999 2.00% $2,759,859 2017 $1,641,119 2.00% $2,813,973 2018 $1,706,764 2.00% $2,869,150 2019 $1,775,034 2.00% $2,925,407 2020 $1,846,035 2.00% $2,982,767 2021 $1,919,877 2.00% $3,041,254 2022 $1,996,672 2.00% $3,100,886 2023 $2,076,539 2.00% $3,161,688 2024 $2,159,600 2.00% $3,223,681 2025 $2,245,984 2.00% $3,286,890 2026 $2,335,824 2.00% $3,351,340 2027 $2,429,257 2.00% $3,417,053 2028 $2,526,427 2.00% $3,484,053 2029 $2,627,484 2.00% $3,552,368 2030 $2,732,583 2.00% $3,622,022 2031 $2,841,887 2.00% $3,693,043 2032 $2,955,562 2.00% $3,765,455 2033 $3,073,785 2.00% $3,839,288 2034 $3,196,736 2.00% $3,914,567 2035 $3,324,606 2.00% $3,991,324 2036 $3,457,590 2.00% $4,069,585 2037 $3,595,893 2.00% $4,149,380 2038 $3,739,729 2.00% $4,230,741 2039 $3,889,318 2.00% $4,313,697 2040 $4,044,891 2.00% $4,398,279 2041 $4,206,687 2.00% $4,484,520 2042 $4,374,954 2.00% $4,572,452 2043 $4,549,952 2.00% $4,662,107 2044 $0 2.00% $0 Total: $114,796,463 Signature: Michael Purdie and JoAnn Simpson Date: 06/24/2011 Signature: Kosmas Lois Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 6/29/2011 Formulas verified by: Clayton Pittiglio

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