count Rate Net After-Tax Equity Cash Proceeds Plus: NPV of After-Tax TRA - Cash Equity Sales Plus: NPV of After-Tax TRA - Tufts Gain Less: NPV of Future Tax - Tufts Gain NPV Value (After-Tax Proceeds + TRA Value) Difference versus No Deferral Net After-Tax Equity Cash Proceeds Plus: NPV of After-Tax TRA - Cash Equ