From: Richard Joslin Sent: Tuesday, May 20, 2014 5:30 PM To: jeffrey E.; Lawrence Delson Subject: Avionetta Attachments: NBAA letter re 280F.pdf One item to discuss is the depreciation once the pla=e is chartered to Apollo under Part 135. Per TAM — interpretin= reg, use by LDB in Apollo capacity is not counted toward "qualified=business use" for purposes of determining accelerated depreciation eligibility. See attached letter from NBAA to Treasury =ommenting on TAM 200945037 (see pg 9 and 10). http://www.irs.gov/pub/irs-wd/0945037.pdf <http://www.irs.gov/pub/irs-wd/0945037.pdf=> Richard Joslin CFO Elysium Management LLC 445 Park Ave Ste. 1401 New York, NY 10022 (w) (c) (f) EFTA_R1_02167856 EFTA02718092