Attached files
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8-K - 8-K - SFX Entertainment, INC | a16-4722_18k.htm |
Exhibit 99.1
SFX Entertainment, Inc. et al
6 Month Cash Flow Budget
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Month 1 |
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Month 2 |
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Month 3 |
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Month 4 |
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Month 5 |
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Month 6 |
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Forecast |
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Forecast |
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Forecast |
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Forecast |
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Forecast |
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Forecast |
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Forecast |
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Week Ending |
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Feb |
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Mar |
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Apr |
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May |
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Jun |
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Jul |
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Total |
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USD $000s |
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2016 |
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2016 |
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2016 |
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2016 |
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2016 |
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2016 |
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6 Months |
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CASH FLOW FROM OPERATIONS |
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Operating Receipts |
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North America Live |
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$ |
5,098 |
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$ |
9,228 |
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$ |
6,301 |
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$ |
10,292 |
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$ |
25,295 |
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$ |
10,706 |
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$ |
66,920 |
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Platform |
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3,192 |
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3,990 |
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3,192 |
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3,573 |
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4,944 |
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3,039 |
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21,931 |
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Brand Partnership |
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4,000 |
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4,000 |
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Insurance Proceeds |
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1,567 |
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283 |
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1,850 |
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Total Operating Receipts |
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$ |
8,290 |
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$ |
14,785 |
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$ |
9,494 |
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$ |
14,149 |
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$ |
34,239 |
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$ |
13,745 |
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$ |
94,701 |
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Operating Company Disbursements |
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North America Live |
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(9,188 |
) |
(11,748 |
) |
(10,547 |
) |
(11,992 |
) |
(18,353 |
) |
(12,048 |
) |
(73,876 |
) | |||||||
Platform |
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(1,981 |
) |
(2,114 |
) |
(8,498 |
) |
(2,407 |
) |
(2,067 |
) |
(9,417 |
) |
(26,484 |
) | |||||||
Brand Partnership |
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(221 |
) |
(221 |
) |
(221 |
) |
(221 |
) |
(221 |
) |
(221 |
) |
(1,328 |
) | |||||||
Insurance Payments |
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(1,074 |
) |
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(619 |
) |
(1,569 |
) |
(495 |
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(3,757 |
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Capex |
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(366 |
) |
(165 |
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(111 |
) |
(499 |
) |
(404 |
) |
(441 |
) |
(1,987 |
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Total Operating Company Disbursements |
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(11,757 |
) |
(15,322 |
) |
(19,377 |
) |
(15,739 |
) |
(22,615 |
) |
(22,623 |
) |
(107,433 |
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Corporate & Other Disbursements |
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Corporate Overhead |
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(1,074 |
) |
(1,595 |
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(1,074 |
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(1,279 |
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(1,236 |
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(1,165 |
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(7,423 |
) | |||||||
Corporate Obligations |
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(750 |
) |
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(750 |
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Intercompany Funding (International) |
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Total Corporate & Other |
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(1,074 |
) |
(1,595 |
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(1,824 |
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(1,279 |
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(1,236 |
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(1,165 |
) |
(8,173 |
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Total Operating Disbursements |
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$ |
(12,832 |
) |
$ |
(16,918 |
) |
$ |
(21,201 |
) |
$ |
(17,018 |
) |
$ |
(23,851 |
) |
$ |
(23,787 |
) |
$ |
(115,607 |
) |
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NET CASH FLOW FROM OPERATIONS |
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$ |
(4,542 |
) |
$ |
(2,133 |
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$ |
(11,708 |
) |
$ |
(2,869 |
) |
$ |
10,388 |
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$ |
(10,043 |
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$ |
(20,906 |
) |
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CASH FLOW FROM FINANCING ACTIVITIES |
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Debt Repayment |
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(54,790 |
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(54,790 |
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Cash Interest |
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(600 |
) |
(602 |
) |
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(622 |
) |
(306 |
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(306 |
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(2,436 |
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NET CASH FLOW FROM FINANCING ACTIVITIES |
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$ |
(55,390 |
) |
$ |
(602 |
) |
$ |
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$ |
(622 |
) |
$ |
(306 |
) |
$ |
(306 |
) |
$ |
(57,226 |
) |
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CASH FLOW FROM RESTRUCTURING ACTIVITIES |
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Professional Fees |
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(4,160 |
) |
(3,844 |
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(1,271 |
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(3,117 |
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(2,374 |
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(6,180 |
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(20,945 |
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Interim Claims Distributions |
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(5,232 |
) |
(5,032 |
) |
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(10,264 |
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Other Restructuring |
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(739 |
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(500 |
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(6,256 |
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(7,495 |
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NET CASH FLOW FROM RESTRUCTURING ACTIVITIE |
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$ |
(10,131 |
) |
$ |
(9,376 |
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$ |
(1,271 |
) |
$ |
(3,117 |
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$ |
(2,374 |
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$ |
(12,436 |
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$ |
(38,704 |
) |
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Domestic Net Cash Flow Before DIP Financing |
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$ |
(70,062 |
) |
$ |
(12,111 |
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$ |
(12,978 |
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$ |
(6,608 |
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$ |
7,708 |
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$ |
(22,785 |
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$ |
(116,836 |
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CASH BALANCES |
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Beginning Domestic Cash Balance (Book) |
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$ |
2,500 |
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$ |
10,438 |
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$ |
23,327 |
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$ |
10,349 |
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$ |
10,741 |
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$ |
18,450 |
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$ |
2,500 |
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Net Cash Flow |
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(70,062 |
) |
(12,111 |
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(12,978 |
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(6,608 |
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7,708 |
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(22,785 |
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(116,836 |
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DIP Account Draw |
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78,000 |
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25,000 |
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7,000 |
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5,000 |
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115,000 |
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Ending Domestic Cash Balance (Book) |
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$ |
10,438 |
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$ |
23,327 |
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$ |
10,349 |
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$ |
10,741 |
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$ |
18,450 |
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$ |
664 |
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$ |
664 |
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DIP BALANCE |
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Total Drawn on DIP Balance |
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78,000 |
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103,000 |
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103,000 |
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110,000 |
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110,000 |
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115,000 |
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115,000 |
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Cumulative PIK Interest |
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3,150 |
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4,043 |
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4,043 |
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5,361 |
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6,046 |
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6,737 |
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6,737 |
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Undrawn Committed Funds |
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37,000 |
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12,000 |
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12,000 |
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5,000 |
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5,000 |
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Total DIP & PIK Interest |
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$ |
81,150 |
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$ |
107,043 |
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$ |
107,043 |
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$ |
115,361 |
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$ |
116,046 |
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$ |
121,737 |
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$ |
121,737 |
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