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| APPRAISAL EXHIBIT II |
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GIFT CARDS & PREPAID DEBIT CARDS |
ASSUMPTIONS |
Market Size |
$ 181, 700, 000, 000 |
| Market Share |
25.00 % |
| Growth |
10.00 % |
| Royalty Rate |
1.50 % |
| Discount Rate |
19.50 % |
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SBBI - IBBOTSON ASSOCIATES, INC. CHICAGO. DATA YEAR = 2006 |
INDUSTRY SIC 7374 - COMPUTER PROCESSING AND DATA PREPARATION |
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| Market Size |
Market Share |
Year |
Royalty Rate |
Royalty Income |
Present Value Factor (19.5 %) |
Net Present Value |
| $181,700,000,000 |
$45,425,000,000 |
1 |
1.50 % |
$681,375,000 |
0.91478 |
$623,307,342 |
| $199,870,000,000 |
$49,967,500,000 |
2 |
1.50 % |
$749,512,500 |
0.76551 |
$573,755,712 |
| $219,857,000,000 |
$54,964,250,000 |
3 |
1.50 % |
$824,463,750 |
0.64059 |
$528,143,333 |
| $241,842,700,000 |
$60,460,675,000 |
4 |
1.50 % |
$906,910,125 |
0.53606 |
$486,157,043 |
| $266,026,970,000 |
$66,506,742,500 |
5 |
1.50 % |
$997,601,138 |
0.44858 |
$447,508,575 |
| $292,629,667,000 |
$73,157,416,750 |
6 |
1.50 % |
$1,097,361,251 |
0.37538 |
$411,932,580 |
| $321,892,633,700 |
$80,473,158,425 |
7 |
1.50 % |
$1,207,097,376 |
0.31413 |
$379,184,802 |
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| TOTAL |
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$3,449,989,387 |
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Federal Reserve Bank of Philadelphia in a paper concerning General Use Prepaid Cards reported that the prepaid market size was $181.7 Billion |
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| Download Final Report |
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