Single Period Capitalization Method. The most theoretically correct method to determine the equity value is based on the income stream generated by the Company because, generally speaking, the hypothetical investor is focused on the availability of future income, its predictability and the expected rate of growth. The appraiser has reviewed the Company’s performance and has a high level of confidence in the Company to continue to produce consistent results. Given the appraiser’s confidence in the Company’s performance and the significance of the income stream in determining the value of the Company, it is also afforded significant weight in the final analysis. The fair market value of the Company’s equity on a 5.45% interest in the Company on anon control (minority interest, non‐marketable basis is estimated to be $291,000 (Table 43).
