You have purchased your property and successfully operated it during its first year. Building on the financial statements that you have developed complete a ten year pro forma for the asset.
In order to construct the pro forma you will need additional information:
Current term expires 12/31/2014. Has a renewal option for five years at 10% over the current rent. Assume the option is exercised.
Current Term expires 12/31/2010. Has a single five- year renewal option at 15% over the current rent. Assume the option is exercised.
At the end of the five year renewal period assume that the space is released to a new tenant at the then market rent.
To calculate the “then market rent” meaning the market rent at a specific time in the future:
1) assume that the rent is currently $5 below market
2) adjust to current market level
3) allow for CPI growth at 3.5% per annum
The space remains vacant for 6 months after the expiration of the renewal option lease.
The space requires a TA of $25 per foot (the cost $25 is stated in “today’s dollars”, to calculate the cost in the future adjust the level using the CPI).
You must pay 2% of the new ten year lease’s rent as leasing commission.
Set up as per the prior exercise.
Assume that insurance, legal, accounting and maintenance/repairs grow at CPI.
Assume utility costs grow at 1.5x CPI.
Assume that taxes pop up to 2.5% of FMV at the end of year five and that your property is reassessed at that time. Assume that the cap rate remains the same as that implied in the prior exercise for year one (cap rate = NOI/Purchase Price). Assume that he first payment impacted is that for the following June.
At the end of year seven the parking lot needs to be resurfaced. Assume that this costs $200,000.
Add a cash flow statement to your analysis. Are you generating enough cash to cover your expenses and major cash items?
Can you pay a dividend to your equity holders? At what level?
If you are short on cash what are some of your options?
Dante Alighieri played a critical role in the literature world through his poem Divine Comedy that was written in the 14th century. The poem contains Inferno, Purgatorio, and Paradiso. The Inferno is a description of the nine circles of torment that are found on the earth. It depicts the realms of the people that have gone against the spiritual values and who, instead, have chosen bestial appetite, violence, or fraud and malice. The nine circles of hell are limbo, lust, gluttony, greed and wrath. Others are heresy, violence, fraud, and treachery. The purpose of this paper is to examine the Dante’s Inferno in the perspective of its portrayal of God’s image and the justification of hell.
In this epic poem, God is portrayed as a super being guilty of multiple weaknesses including being egotistic, unjust, and hypocritical. Dante, in this poem, depicts God as being more human than divine by challenging God’s omnipotence. Additionally, the manner in which Dante describes Hell is in full contradiction to the morals of God as written in the Bible. When god arranges Hell to flatter Himself, He commits egotism, a sin that is common among human beings (Cheney, 2016). The weakness is depicted in Limbo and on the Gate of Hell where, for instance, God sends those who do not worship Him to Hell. This implies that failure to worship Him is a sin.
God is also depicted as lacking justice in His actions thus removing the godly image. The injustice is portrayed by the manner in which the sodomites and opportunists are treated. The opportunists are subjected to banner chasing in their lives after death followed by being stung by insects and maggots. They are known to having done neither good nor bad during their lifetimes and, therefore, justice could have demanded that they be granted a neutral punishment having lived a neutral life. The sodomites are also punished unfairly by God when Brunetto Lattini is condemned to hell despite being a good leader (Babor, T. F., McGovern, T., & Robaina, K. (2017). While he commited sodomy, God chooses to ignore all the other good deeds that Brunetto did.
Finally, God is also portrayed as being hypocritical in His actions, a sin that further diminishes His godliness and makes Him more human. A case in point is when God condemns the sin of egotism and goes ahead to commit it repeatedly. Proverbs 29:23 states that “arrogance will bring your downfall, but if you are humble, you will be respected.” When Slattery condemns Dante’s human state as being weak, doubtful, and limited, he is proving God’s hypocrisy because He is also human (Verdicchio, 2015). The actions of God in Hell as portrayed by Dante are inconsistent with the Biblical literature. Both Dante and God are prone to making mistakes, something common among human beings thus making God more human.
To wrap it up, Dante portrays God is more human since He commits the same sins that humans commit: egotism, hypocrisy, and injustice. Hell is justified as being a destination for victims of the mistakes committed by God. The Hell is presented as being a totally different place as compared to what is written about it in the Bible. As a result, reading through the text gives an image of God who is prone to the very mistakes common to humans thus ripping Him off His lofty status of divine and, instead, making Him a mere human. Whether or not Dante did it intentionally is subject to debate but one thing is clear in the poem: the misconstrued notion of God is revealed to future generations.
Babor, T. F., McGovern, T., & Robaina, K. (2017). Dante’s inferno: Seven deadly sins in scientific publishing and how to avoid them. Addiction Science: A Guide for the Perplexed, 267.
Cheney, L. D. G. (2016). Illustrations for Dante’s Inferno: A Comparative Study of Sandro Botticelli, Giovanni Stradano, and Federico Zuccaro. Cultural and Religious Studies, 4(8), 487.
Verdicchio, M. (2015). Irony and Desire in Dante’s” Inferno” 27. Italica, 285-297.