Praohee Qurehon Private Operating, Foundah ons -Da come Teo £ —s oo ae cage ac distribuhors dveclly tiv the active i. of te CYempt oshwtes equal to cubstanhauy eae dered + mean Ch ov move) ot the lesser of “adjust met roome" ov te PES “Minimum wwueetmeus retwn * ~ Adjusted net ineomes Gross income minus eypomer S = Minimum mnucetmen return 2 5% of the everes of the EMV of aul investment— accele NEE BLQuisnh mn mdebtednes> on the property Herve: Adquated ne meome > F000, 000 100,000 Mini mun mucet mend retuvn 16 lesgew LS 20001000 y ,05 = 1001000 85% of 100:00 et acai tra PE munch make (8% y 100,000) 85/000 Qualiérang distrihaboes that weve made > 2000/00 Ly thewefone, income test sah ere) J . rz, use! i - peset Tes s ee av ES eS i 04 D 20,000,000 7,000,000 40.4% ZE10001 01% Fan aah 05a Poeek tegt sanefied iF 66% ov move of PF's base, ave. devoted tw tHe ache conduc of 14% eyempt puy pect,