$4.5 El ERNST & YOUNG Qualify In Everything Wr Do Page 9 EFTA00605885 Blocker Tax Rate 40.0% Individual Tax Rate 35.0% Discount Rate 7.5% JOAN Share of Value 65.0% Gross Tax Liability for Cash Received 4,605 Tax Liability Per Annum Run-Off 73% Gross Asset 1,018 Asset Per Annum Run-Off 7.5