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Sheet 2 of 6. Page 27. 3. Cont* d. Depreciation recomputed at rates based on service lives from 5 to 15 years less than those currently used by the Water Oomoanv. The adjusted cost of .^10,406 develops an approximate annual composite rate of 1.4$. This compares with the rate of 4.0$ used in present oilling which rate provides for management expense in addition to deorecia— tlon. This results in a decrease of 4. Property taxes - deorease of 5. Federal Income Tax - not previously included in expense of operation - increase of 6. Interest on Investment: a® Interest rate increased from 6$ to 6~% / $1882 b. Rental base Increased $43,617 / 2957 c. Rental base decreased $74,667 - Net / 297 Net increase in 1949 cost 1 - $18,310 - 10,048 / 27,852 J~22 m.136 course appl^ 2, adjusted cost of depreciation, $10,406, ap- l0W* 7118 annual rate of 1.4o$ developed^ xrom this figure oompares with 1.80$ developed in Table “J11 on original cost basis which should not vary appreciably from investment Soet SwfnI eS any,eIfnt 1 Relieve the report should Include a tabulation 1S?rAqtS0n+P£CC5'atl?r\ reserve and annual depreciation expense- based on an^Sse^ a^oo^ t0 11163 “J" and “K" bafled on a “ Property taxes of $3,065 apparently cover land only as lnaicated in tabulation at top of page 27. This item should 1 CS^n?e^inC^o?n taXeS on lmPr laments. Total taxes as Included in ^ Ji11 ^nted to $13,530. This item should be checked n°t aiready done so, referred to Mr. Charles Adams together witn amounts shown elsewhere in the report for property taxes. _ , 6bRental Base increase of $46,617 over Base used in 1949 billing consists of following items: