From: jeffrey E. [jeeyacation@gmail.com]
Sent: 10/26/2015 6:08:48 PM
To: Melanie SpineIla
Subject: draft
Importance: High
Brad Wechsler
phaidon and art space. combined basis 96 million, ( reviewed with brad and joe.) . add ten for
restructuring . basis 106. mi. subtract total sale price, for both, lets say approx $8 - 15m . leaving loss
of between 90 and 98 million long term loss. . AMT rate 28 % obama. tax 3.8%. city and state
12% total aprox 43 %. tax rate. savings 38.7 - 44 m