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i Ile Inca. Omni. nfloi 0.9•19 0w1.O (II int. tit lbw BA.. Nanda liwywie. ht.1/4 ....I1ø.ø. Cleumua ai Hannah:et te ',maw aelChnnute d lined Canna." fl it( Euntne ~ca. hasilan Dinnfir and Matta el linerd Carve...inn( maw. rotn0(9 40.4 Do-Nix fl eet Finswal 5mø. Prat era ACOntlill niliM atdSmi
sasamti.5 EL9Lba 1M111 ((e salon. Afrem pt. slure 44..0 Curnali Pau i4.2911) 525.30 51444.4 MIA 4/9941•9 MOA 6: Ren! Let el AttOtt AAM Ika! Canna, Slanes 533.994 Mark, Caplullzadna 51341119 P/g. roti (bb 00 P/g. Mannis 5143 00 Phs 00 lausgul caplid Vake 511411114 149 eub Eysnaleu e
OMMON EQUITY VALUATION REPORT As of June 20, 2011 Cost of Equity — Capital Asset Pricing Model To estimate The Company's cost of equity financing, the Capital Asset Pricing Model ("CAPM") was utilized. The CAPM measures the return required by investors given a company's risk profile. This model is expressed arithmetically by
i Ile Inca. Omni. nfloi 0.9•19 0w1.O (II int. tit lbw BA.. Nanda liwywie. ht.1/4 ....I1ø.ø. Cleumua ai Hannah:et te ',maw aelChnnute d lined Canna." fl it( Euntne ~ca. hasilan Dinnfir and Matta el linerd Carve...inn( maw. rotn0(9 40.4 Do-Nix fl eet Finswal 5mø. Prat era ACOntlill niliM atdSmi
sasamti.5 EL9Lba 1M111 ((e salon. Afrem pt. slure 44..0 Curnali Pau i4.2911) 525.30 51444.4 MIA 4/9941•9 MOA 6: Ren! Let el AttOtt AAM Ika! Canna, Slanes 533.994 Mark, Caplullzadna 51341119 P/g. roti (bb 00 P/g. Mannis 5143 00 Phs 00 lausgul caplid Vake 511411114 149 eub Eysnaleu e
OMMON EQUITY VALUATION REPORT As of June 20, 2011 Cost of Equity — Capital Asset Pricing Model To estimate The Company's cost of equity financing, the Capital Asset Pricing Model ("CAPM") was utilized. The CAPM measures the return required by investors given a company's risk profile. This model is expressed arithmetically by
i Ile Inca. Omni. nfloi 0.9•19 0w1.O (II int. tit lbw BA.. Nanda liwywie. ht.1/4 ....I1ø.ø. Cleumua ai Hannah:et te ',maw aelChnnute d lined Canna." fl it( Euntne ~ca. hasilan Dinnfir and Matta el linerd Carve...inn( maw. rotn0(9 40.4 Do-Nix fl eet Finswal 5mø. Prat era ACOntlill niliM atdSmi
sasamti.5 EL9Lba 1M111 ((e salon. Afrem pt. slure 44..0 Curnali Pau i4.2911) 525.30 51444.4 MIA 4/9941•9 MOA 6: Ren! Let el AttOtt AAM Ika! Canna, Slanes 533.994 Mark, Caplullzadna 51341119 P/g. roti (bb 00 P/g. Mannis 5143 00 Phs 00 lausgul caplid Vake 511411114 149 eub Eysnaleu e
OMMON EQUITY VALUATION REPORT As of June 20, 2011 Cost of Equity — Capital Asset Pricing Model To estimate The Company's cost of equity financing, the Capital Asset Pricing Model ("CAPM") was utilized. The CAPM measures the return required by investors given a company's risk profile. This model is expressed arithmetically by
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