What were they again?
IPS Q was brutal… Sevilla has no current liquidity needs from the investment portfolio. The high current income means that any liquidity requirements can be from income. • unique circumstances: the $100,000 annual charitable giving goal represents 10% of Sevilla’s $1 million investment portfolio. To achieve a 10% after-tax return, Sevilla must earn approximately 15% before tax on the portfolio, which is well above the portfolio’s historical earnings