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0 <br />McKay Pi peline <br />Water Court Transfer $200,000 = <br />CD <br />M) <br />Total Overhead $10,200,000 0_ <br />Marshall cost per ac-ft $15,000 <br />100 ac-ft <br />S 15,000 x 100 = S 1,500,000 <br />($1 , 500, 000 + Overhead) / 100 = $117,000 ac-ft <br />200 ac-ft <br />$15,000x200 = $3,000,000 <br />($3,000,000 + Overhead) / 200 $66,000 ac-ft <br />Marshall Shares <br />McKay Math <br />sisoo lo aBuea <br />Could Acquire Additional Shares <br />We Own 376 ac-ft Impacted Today <br />It Gets Complex. This is Simplified <br />10 <br />