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median discounts from the restricted stock studies. SUMMARY OF RESTRICTED STOCK STUDIES [SEC Studies (non-reporting OTC companies [Gelman Study [Moroney Study $Maher Study [Trout Study [Standard Research Consultants Study [Silber Study [Management Planning, Inc. Study [FMV Study [Hertzel - Smith Stud
131 2.94% 8.00% 22.7% Average Cost Tax Rate Atter-Tas Of Debt° (per ahowl Cost or Debt 6.0% 40.7% 3.6% %of AfienTax Cost Weighted Told Cadlal OfCeilal Cost of Capital Equily 100.0% 22.7% 22.7% Debi 0.0% 3.6% 0.0% Weighted Average Cost or Capital 22.7% Concluded V. ACC (rounded)
median discounts from the restricted stock studies. SUMMARY OF RESTRICTED STOCK STUDIES [SEC Studies (non-reporting OTC companies [Gelman Study [Moroney Study $Maher Study [Trout Study [Standard Research Consultants Study [Silber Study [Management Planning, Inc. Study [FMV Study [Hertzel - Smith Stud
131 2.94% 8.00% 22.7% Average Cost Tax Rate Atter-Tas Of Debt° (per ahowl Cost or Debt 6.0% 40.7% 3.6% %of AfienTax Cost Weighted Told Cadlal OfCeilal Cost of Capital Equily 100.0% 22.7% 22.7% Debi 0.0% 3.6% 0.0% Weighted Average Cost or Capital 22.7% Concluded V. ACC (rounded)
median discounts from the restricted stock studies. SUMMARY OF RESTRICTED STOCK STUDIES [SEC Studies (non-reporting OTC companies [Gelman Study [Moroney Study $Maher Study [Trout Study [Standard Research Consultants Study [Silber Study [Management Planning, Inc. Study [FMV Study [Hertzel - Smith Stud
131 2.94% 8.00% 22.7% Average Cost Tax Rate Atter-Tas Of Debt° (per ahowl Cost or Debt 6.0% 40.7% 3.6% %of AfienTax Cost Weighted Told Cadlal OfCeilal Cost of Capital Equily 100.0% 22.7% 22.7% Debi 0.0% 3.6% 0.0% Weighted Average Cost or Capital 22.7% Concluded V. ACC (rounded)
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