of Tax Reform Current Interest 1,024 EBITDA Less Cash Minority Interest 1,980 Interest Cap at 30% of EBITDA less Minority Interest 594 Assumed Capex Deductable for Tax Purposes Increase in Taxable Income 430 Tax Rate 21% Incremental Tax Before NOL Usage 90 Net Increase In Taxable Income After 80% NOL 86 Tax Rate 21