Calculation of Fair Market Value
Table Of Contents
Wednesday, April 24th 2024
Transmittal Letter
Scope of Engagement and Intended Use
Fair Market Value
USPAP Compliance
Nature and Scope of Assignment
Scope of Work
Credible Assignment Results
Highest and Best Use
Forward-Looking Statements
Assumptions and Limiting Conditions
Valuation Qualifications
Certification of Appraiser
ASA Reaccreditation Certificate
| Valuation Summary | A |
| Summary Description of the Company | B |
| Asset-Based Approach | C |
| Balance Sheets Analyzed and Adjusted | |
| Net Asset Book Value | |
| Net Realizable Equity | |
| Excess Earnings | |
| Income Approach | D |
| Income Statements Analyzed and Recasted | |
| Historic Cash Flows | |
| Discounted Future Cash Flow | |
| Capitalization of Cash Flow | |
| Market Approach | E |
| National Market | |
| Local Market | |
| Comparable Private Transactions | |
| Comparable Public Transactions | |
| Financial Analysis | F |
| Risk Factors | G |
| Premiums and Discounts | H |
| IRS Revenue Ruling 59-60 Considerations | I |
| Industry Outlook | J |
| U.S. Economic and Interest Rate Outlook | K |
| Local Economy | L |