From: J <[email protected]>

From: J <[email protected]> To: "Barry J. Cohen" G >, Melanie Spinella Subject: Re: Ec Date: Thu, 04 Oct 2018 11:25:41 +0000 as i said difficult to prediict 1 the credits are in a way more valuable as a percentage of tax due with a lower corp tax. 2 and if the money is free, than a high interest rate environment might be more profitable.. however. the loans are in low quality ie in need of subsidy investments. and high interest rate enviorments make succees more difficult. On Thu, Oct 4, 2018 at 7:12 AM Barry J. Cohen < wrote: Thanks. We find that tax and interest rates affect the price taxpayers pay for credits, but not so much the volume. These guys make money off of volume. Let us give it some more thought. Sent from my iPhone On Oct 3, 2018, at 11:05 PM, J <[email protected]> wrote: My overall view is that the biz is tax rate and interest rate sensitive both of these parameters are going to bd vastly different from the past years. So dill to predict outcome s please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation®gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and EFTA01020861 destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA01020862