# Cost Effect

**Manufacturing Sector (NAICS 3361)**

**Parameters** 1.110 (2005 to 2010 dollars)



### GDP Deflators 1.022 (2008 to 2010 dollars) Domestic content 

### 0.66690608 1.045 (2007 to 2010 dollars)

Original Dollars 2005 2010 2010 2007

Dataset 

### 2010 BLS ERM **2010 ASM, NAICS 3361**  **2010 ASM,**

**NAICS 33611 2007 Econ** 

**Census, NAICS 3361** 

Sectors 

### Motor vehicle

mfg Motor vehicle

mfg Light Duty Only Motor vehicle mfg

Labor Intensity, jobs/$1M, unadjusted 

### 0.8550 0.6547 0.6093 0.6946
Labor Intensity, jobs/$1M (2010$), direct 

### 0.7703 0.6547 0.6093 0.6648

Jobs/$1 million after domestic adjustment 0.513714148 0.436631777 0.40634935 0.443362365 Fleet Cost ($Million/year 10$) 2017 2,435 $ 

### 953 810 754 732 2018 4,848 $ 

### 1,825 1,551 1,444 1,402 2019 6,818 $ 

### 2,469 2,098 1,953 1,896 2020 8,858 $ 

### 3,085 2,622 2,441 2,370 2021 12,400 $ 

### 4,154 3,531 3,286 3,191 2022 18,323 $ 

### 5,905 5,019 4,671 4,535 2023 23,734 $ 

### 7,357 6,253 5,819 5,651 2024 29,101 $ 

### 8,677 7,375 6,863 6,664 2025 31,678 $ 

### 9,085 7,722 7,186 6,978

# Parts Sector (NAICS 3363)

2007 Original Dollars 2005 2010 2007 

### 2007 Econ **Census, NAICS 33611**  Dataset 

### 2010 BLS ERM **2010 ASM, NAICS 3363**  **2007 Econ Census,**

**NAICS 3363**

Light Duty Only Sectors 

### Motor vehicle parts manufacturing Motor vehicle

parts manufacturing Motor vehicle parts

mfg

0.6293 Labor Intensity, jobs/$1M, unadjusted 

### 2.9011 2.3094 2.8338

0.6022 Labor Intensity, jobs/$1M (2010$), direct 

### 2.6136 2.3094 2.7120

0.401621656 Jobs/$1 million after domestic adjustment 1.743 1.540 1.809

663 2017 3,247 2,869 3,004 1,270 2018 6,222 5,498 5,757 1,718 2019 8,422 7,442 7,792 2,147 2020 10,532 9,306 9,744 2,890 2021 14,190 12,538 13,128 4,108 2022 20,181 17,832 18,671 5,119 2023 25,160 22,231 23,277 6,037 2024 29,692 26,235 27,469 6,321 2025 31,108 27,487 28,780

### Minimum **Maximum** Rounded Costs (Millions)**Minimum Maximum**  663 3,247 

### 2017 2,435 $ 700 3,200 1,270 6,222 

### 2018 4,848 $ 1,300 6,200 1,718 8,422 

### 2019 6,818 $ 1,700 8,400 2,147 10,532 

### 2020 8,858 $ 2,100 10,500 2,890 14,190 

### 2021 12,400 $ 2,900 14,200 4,108 20,181 

### 2022 18,323 $ 4,100 20,200 5,119 25,160 

### 2023 23,734 $ 5,100 25,200 6,037 29,692 

### 2024 29,101 $ 6,000 29,700 6,321 31,108 

### 2025 31,678 $ 6,300 31,100

## U.S. Vehicle Sales: From UsaSa01.xls **U.S. Vehicle Production by Manufacturer: From UsaPr05.xlsx**  **US Production/US Sales NOTE: Truck appears to be total trucks not just LD. For the follow** **ing, I'm going to use total trucks for sales, for comparability**

**.**

**Cars Light Trucks**  **MD/HD Trucks Total Trucks** Car Truck **Year Total**  **Total Total**  **Total Total**  **Total Year**  Car Total Truck Total **2010** 5,635,433 5,919,085 217,702 6,136,787 2,731,105 5,011,988**2010** 0.48463091 0.816712068 0.6577428 **2009** 5,400,890 5,000,792 199,686 5,200,478 2,195,588 3,513,843**2009** 0.40652337 0.675676928 0.53855606 **2008** 6,769,107 6,425,634 298,424 6,724,058 3,731,241 4,940,900 **2008** 0.55121614 0.734809248 0.64270621 **2007** 7,562,334 8,526,888 371,093 8,897,981 3,867,268 6,885,042 **2007** 0.51138551 0.773775759 0.65322626 **2006** 7,761,592 8,742,808 544,581 9,287,389 4,311,696 6,948,581 **2006** 0.55551696 0.748173787 0.66046628 **2005** 7,659,983 9,287,771 496,575 9,784,346 4,265,872 7,680,781 **2005** 0.55690359 0.785007092 0.68484451 **2004** 7,482,555 9,384,365 431,653 9,816,018 4,165,925 7,794,429**2004** 0.55675167 0.794052028 0.69140697 **2003** 7,555,551 9,083,502 328,389 9,411,891 4,453,369 7,633,659**2003** 0.58941684 0.811065385 0.71236595 **2002** 8,042,255 8,774,113 322,284 9,096,397 4,957,377 7,322,205**2002** 0.61641629 0.804956622 0.7164847 **2001** 8,352,000 8,770,369 350,009 9,120,378 4,808,019 6,616,670 **2001** 0.57567277 0.725481992 0.65387144

U.S. Vehicle Sales, 1931-2010. UsaSa01.xls, accessed July 25, 2011 at http://subscribers.wardsauto.com/refcenter/ , ©Copyright 2011, Ward's Automotive Group, a division of Penton Media Inc. Redistribution prohibited. U.S. Vehicle Production by Manufacturer. UsaPr05.xls, accessed July 25, 2011 at http://subscribers.wardsauto.com/refcenter/ , ©Copyright 2011, Ward's Automotive Group, a division of Penton Media Inc. Redistribution prohibited.

### NOTE: Truck appears to be total trucks not just LD. For the follow**ing, I'm going to use total trucks for sales, for comparability**

**.** Proportion of LT among all trucks Average for Car & Truck

Car Average (20XX-2011)

Truck Average (20XX-2011) 0.6577428 0.484631 0.816712068 0.964525085 0.60126807 0.446407 0.752018322 0.961602376 0.6168572 0.486252 0.745611548 0.955618467 0.62829767 0.493745 0.754907211 0.958294696 0.63620302 0.508217 0.753181925 0.941363391 0.64597628 0.51736 0.759946674 0.949248013 0.65352425 0.523466 0.765941238 0.956025651 0.66176954 0.532392 0.772449213 0.965109137 0.66855373 0.542972 0.776426066 0.964570148 0.66690608 0.546753 0.770860026 0.961623411

U.S. Vehicle Sales, 1931-2010. UsaSa01.xls, accessed July 25, 2011 at http://subscribers.wardsauto.com/refcenter/ , ©Copyright 2011, Ward's Automotive Group, a division of Penton Media Inc. Redistribution prohibited. U.S. Vehicle Production by Manufacturer. UsaPr05.xls, accessed July 25, 2011 at http://subscribers.wardsauto.com/refcenter/ , ©Copyright 2011, Ward's Automotive Group, a division of Penton Media Inc. Redistribution prohibited.

### Raw Data: BLS ERM realdomreq (real domestic employment requirements table for 1993-2010), http://www.bls.gov/emp/ep_data_emp_requirements.htm

Year Sector 81 Sector 83 Ln(Sec81) Ln(Sec83) **2005$** Sector 1993 1.638752 5.572813 0.493935 1.7179 81 1994 1.528742 5.233601 0.424445 1.6551 82 1995 1.582246 5.358023 0.458845 1.678595 83 1996 1.552821 5.299569 0.440073 1.667625 1997 1.368803 5.125182 0.313937 1.634166 1998 1.308802 4.930115 0.269112 1.595362 1999 1.17323 4.390526 0.159761 1.479449 2000 1.297179 4.626042 0.260192 1.531702 2001 1.377158 4.698553 0.320022 1.547255 2002 1.167713 3.985995 0.155047 1.382787 2003 1.111995 3.660185 0.106156 1.297514 2004 1.043225 3.548093 0.042317 1.26641 2005 0.998222 3.491036 -0.00178 1.250199 2006 0.955367 3.40116 -0.04566 1.224117 2007 0.916044 3.267324 -0.08769 1.183971 2008 0.973064 3.528846 -0.02731 1.260971 2009 0.889512 3.242646 -0.11708 1.17639 2010 0.855027 2.901118 -0.15662 1.065096

Sector 81 Semilog SUMMARY OUTPUT 

### Regression Statistics Multiple R 0.969586 R Square 0.940098 Adjusted R Square

0.936354 Standard Error

0.053978 Observations 18

ANOVA 

### df SS MS F Significance F Regression 1 0.731617 0.731617 251.1025 3.35E-11 Residual 16 0.046618 0.002914 Total 17 0.778235



### Coefficients Standard Error t Stat P-value Lower 95%Upper 95% Lower 95.0%

Upper 95.0% Intercept 77.94398 4.908248 15.8802 3.24E-11 67.53896 88.34901 67.53896 88.34901 Year -0.03886 0.002452 -15.8462 3.35E-11 -0.04406 -0.03366 -0.04406 -0.03366



### ProjectionsRaw Data Raw Data Year Actual 81 Actual 83 Projected 81 Projected 83 1993 1.638752 5.572813 1.644438 5.744127 1994 1.528742 5.233601 1.581762 5.528551 1995 1.582246 5.358023 1.521475 5.321065 1996 1.552821 5.299569 1.463485 5.121366 1997 1.368803 5.125182 1.407706 4.929162 1998 1.308802 4.930115 1.354053 4.744171 1999 1.17323 4.390526 1.302444 4.566123 2000 1.297179 4.626042 1.252803 4.394757 2 3 4 5 6 7

### 2001 1.377158 4.698553 1.205054 4.229822

2002 1.167713 3.985995 1.159124 4.071077 2003 1.111995 3.660185 1.114946 3.91829 2004 1.043225 3.548093 1.072451 3.771237 2005 0.998222 3.491036 1.031575 3.629703 2006 0.955367 3.40116 0.992258 3.493481 2007 0.916044 3.267324 0.954439 3.362371 2008 0.973064 3.528846 0.918061 3.236181 2009 0.889512 3.242646 0.883071 3.114728 2010 0.855027 2.901118 0.849413 2.997833 2011 0.817039 2.885324 2012 0.785898 2.777038 2013 0.755944 2.672816 2014 0.727132 2.572506 2015 0.699418 2.47596 2016 0.672761 2.383038 2017 0.647119 2.293603 2018 0.622455 2.207524 2019 0.598731 2.124676 2020 0.575911 2.044937 2021 0.553961 1.968191 2022 0.532847 1.894325 2023 0.512538 1.823231 2024 0.493003 1.754805 2025 0.474213 1.688948 0 1

1990 2000 2010

### Raw Data: BLS ERM realdomreq (real domestic employment requirements table for 1993-2010), http://www.bls.gov/emp/ep_data_emp_requirements.htm

Definition NAICS Motor vehicle manufacturing

3361 Motor vehicle body

and trailer manufacturing 3362 Motor vehicle parts manufacturing

3363

Sector 83 Semilog SUMMARY OUTPUT 

### Regression Statistics Multiple R 0.969434 R Square 0.939802 Adjusted R Square

0.93604 Standard Error

0.053274 Observations 18

ANOVA 

### df SS MS F Significance F Regression 1 0.708938 0.708938 249.7916 3.48E-11 Residual 16 0.04541 0.002838 Total 17 0.754347



### Upper 95.0% Coefficients Standard Error t Stat P-value Lower 95%Upper 95% Lower 95.0% Intercept 77.98493 4.844236 16.0985 2.64E-11 67.71561 88.25425 67.71561 Year -0.03825 0.00242 -15.8048 3.48E-11 -0.04338 -0.03312 -0.04338

Actual 81
Actual 83 Projected 81 Projected 832020 2030

### Upper 95.0%

88.25425 -0.03312

# Annual Survey of Manufacture

Sector 31: Annual Survey of Manufactures: General Statistics: Statistics for Industry Groups and Industries: 2009 and 2010 NOTE: For information on confidentiality protection, sampling error, nonsampling error, and definitions, see Survey Methodology. For information on the ASM industry groupings, see Comparability. Data in this table represent those available when this report was created. Data may not be available for all NAICS industries or geographies. Detail items may not add to total due to independent rounding.

Geographic Area Name NAICS-based

code Meaning of

NAICS-based code Year Number of employees RSE of total

number of employees (%)Annual payroll

($1,000) Total fringe

benefits ($1,000) RSE of total fringe

benefits (%) Employer's

cost for health insurance ($1,000) Employer's cost

for defined benefit pension plans ($1,000) Employer's cost for

defined contribution plans ($1,000) United States 3361 Motor vehicle mfg 2010 135881 1 9205573 3678643 1 1586953 496741 170529 United States 3361 Motor vehicle mfg 2009 123,484 1 7,927,052 3,636,428 1 1,515,594 354,190 177,974 United States 33611 Automobile and light duty motor vehicle manufacturing 2010 113693 2 8046206 3147287 1 1316540 426319 147371 United States 33611 Automobile and light duty motor vehicle manufacturing 2009 101,510 1 6,837,940 3,105,345 1 1,264,416 311,321 145,878 United States 336111 Automobile manufacturing 2010 60200 3 4007798 1498085 2 647851 170765 81183 United States 336111 Automobile manufacturing 2009 51,440 1 3,358,548 1,570,636 1 632,769 178,949 77,348 United States 336112 Light truck and utility vehicle manufacturing 2010 53493 1 4038408 1649202 1 668689 255554 66188 United States 336112 Light truck and utility vehicle manufacturing 2009 50,070 1 3,479,392 1,534,709 1 631,647 132,372 68,530

United States 3363 Motor vehicle parts mfg 2010 388657 1 19540845 6757660 1 2954429 514274 418825 United States 3363 Motor vehicle parts mfg 2009 403,660 1 18,547,126 6,672,876 1 3,019,262 305,418 365,131



# Economic Census Sector 31: Manufacturing: Summary Series: General Summary: Industry Statistics for Industry

Groups and Industries: 2007 Data based on the 2007 Economic Census. For information on confidentiality protection, sampling error, nonsampling error, and definitions, see Survey Methodology

[pdf]. Data in this file represent those available when this file was created; data may not be available for all NAICS industries or geographies. Data in this table may be subject to employment- and/or sales-size minimums that vary by industry. Geographic Area Name

2007 NAICS code

Meaning of 2007 NAICS code

Footnote identifier

CompaniesNumber of establishments Number of employees

Annual payroll ($1,000)

Production workers avg per year

Production workers hours (1,000)

Production workers, nonleased employees wages ($1,000)

Value added ($1,000) United States 3361 Motor vehicle manufacturing 313 379 179,362 13,355,573 154,822 303,402 11,448,694 72,653,434 United States 33611 Automobile and light duty motor vehicle manufacturing 235 278 150,242 12,001,554 131,438 262,655 10,513,020 68,533,107 United States 336111 Automobile manufacturing 174 188 65,436 5,110,050 56,447 113,980 4,449,862 21,378,103 United States 336112 Light truck and utility vehicle manufacturing

66 90 84,806 6,891,504 74,991 148,675 6,063,158 47,155,004

United States 3363 Motor vehicle parts manufacturing 4,659 5,742 584,440 28,209,409 444,761 905,666 19,525,053 74,666,400NOTE: For information on confidentiality protection, sampling error, nonsampling error, and definitions, see Survey Methodology. For information on the ASM industry groupings, see Comparability. Data in this table represent those available when this report was created. Data may not be available for all NAICS industries or geographies. Detail items may not add to total due to independent rounding.

Employer's cost for other fringe benefits ($1,000) Production

workers avg per year Production

workers hours (1,000) Production

workers wages ($1,000) Total cost of

materials ($1,000) RSE of total cost

of materials (%) Materials, parts,

containers, packaging, etc. used ($1,000) Cost of resales

($1,000) Contract work

($1,000) Cost of

purchased fuels ($1,000) RSE of cost of

purchased fuels (%) 1424420 113863 222631 7446195 140558251 2 138556089 1031539 215483 320649 1 1,588,670 103,349 196,432 6,391,521 107,559,844 1 105,144,792 1,468,670 226,246 305,835 1 1257056 97296 192716 6680733 124901603 3 123424959 756337 41479 287740 1 1,383,731 86,354 166,267 5,668,217 95,142,174 1 93,481,860 941,052 61,590 280,563 1 598285 49854 97095 3187844 53463714 6 52385002 735115 16403 122837 1 681,571 43,762 87,623 2,755,570 40,279,888 2 39,022,861 921,782 31,690 122,466 1 658771 47442 95621 3492889 71437889 1 71039957 21222 25076 164903 1 702,160 42,592 78,644 2,912,647 54,862,286 1 54,458,999 19,270 29,900 158,097 1

2870132 292977 593493 12973468 101882672 1 93921418 4694275 1464655 405452 2 2,983,064 296,913 576,771 ######## 78,048,502 1 71,464,512 3,817,727 1,145,192 394,337 2

Data based on the 2007 Economic Census. For information on confidentiality protection, sampling error, nonsampling error, and definitions, see Survey Methodology

[pdf]. Data in this file represent those available when this file was created; data may not be available for all NAICS industries or geographies. Data in this table may be subject to employment- and/or sales-size minimums that vary by industry. Total cost of materials ($1,000)

Total value of shipments ($1,000)

Total capital expenditures (new and used) ($1,000) 185,376,159 258,204,960 3,748,747 169,841,521 238,763,096 3,555,926 63,392,242 84,727,558 1,765,150 106,449,279 154,035,538 1,790,776

131,469,683 206,240,940 6,729,578NOTE: For information on confidentiality protection, sampling error, nonsampling error, and definitions, see Survey Methodology. For information on the ASM industry groupings, see Comparability. Data in this table represent those available when this report was created. Data may not be available for all NAICS industries or geographies. Detail items may not add to total due to independent rounding.

Quantity of electricity purchased (1,000 kWh) Purchased

electricity ($1,000) RSE of

purchased electricity (%) Quantity of

generated electricity (1,000 kWh) Quantity of

electricity sold or transferred (1,000 kWh) Total value of

shipments ($1,000) RSE of total

value of shipments (%) Value of products

shipments ($1,000) Value of

interplant transfers ($1,000)Total

miscellaneous receipts ($1,000) Value of

resales ($1,000) Contract

receipts ($1,000) 7902792 434492 1 D D 207542991 2 205775919 6510634 1767072 908777 260936 6,782,719 414,302 1 D D 149,900,446 1 147,913,213 D 1,987,233 1,630,077 D 7196501 391088 1 D D 186594498 2 185258041 D 1336457 D D 6,282,860 377,109 1 D D 134,129,035 1 132,723,764 D 1,405,271 1,053,139 D 3865907 204357 1 D S 74301507 5 73055012 D 1246495 D D 3,158,102 181,089 1 D D 53,724,061 2 52,406,195 D 1,317,866 D D 3330594 186731 1 D D 112292991 1 112203029 D 89962 D D 3,124,758 196,020 1 D D 80,404,974 1 80,317,569 D 87,405 D D

20994366 1396872 1 D D 168296739 1 161599474 18651671 6697265 5556278 197089 ######## 1,226,734 1 D D 130,520,776 1 125,281,612 16,374,829 5,239,164 4,501,427 155,795

Data based on the 2007 Economic Census. For information on confidentiality protection, sampling error, nonsampling error, and definitions, see Survey Methodology

[pdf]. Data in this file represent those available when this file was created; data may not be available for all NAICS industries or geographies. Data in this table may be subject to employment- and/or sales-size minimums that vary by industry.Other

miscellaneous receipts ($1,000) Value added

($1,000) 597359 67483831 D 41,968,097 587299 61836793 D 38,798,362 D 20763370 D 13,338,967 D 41073423 D 25,459,395

943898 67018745 581,941 51,569,867Table 1.1.4. Price Indexes for Gross Domestic Product

[Index numbers, 2005=100] Bureau of Economic Analysis Downloaded on 8/25/2011 At 8:59:48 AM Last Revised July 29, 2011 . NOTE THAT THIS MATCHES THE TABLE PROVIDED BY T SHERWOOD 2/28/12 Line 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997

1 Gross domestic product

64.818 67.047 69.579 72.274 74.826 76.602 78.288 79.935 81.602 83.154 84.627Table 1.1.4. Price Indexes for Gross Domestic Product [Index numbers, 2005=100]
Downloaded on 8/25/2011 At 8:59:48 AM Last Revised July 29, 2011 . NOTE THAT THIS MATCHES THE TABLE PROVIDED BY T SHERWOOD 2/28/12 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 85.58 86.84 88.724 90.731 92.192 94.134 96.784 100 103.237 106.231 108.565 109.732 111v2.11.0 (20120711)



## Calendar Year Analysis

CY Car Sales Truck Sales $/car $/truck $/vehicle Car Truck Vehicles 2012 8,775,828 5,918,561 $0 $0 $0 $0 $0 $0 2013 9,746,452 6,335,099 $0 $0 $0 $0 $0 $0 2014 9,785,439 6,087,635 $0 $0 $0 $0 $0 $0 2015 10,070,241 6,088,258 $0 $0 $0 $0 $0 $0 2016 10,140,463 6,054,713 $0 $0 $0 $0 $0 $0 2017 9,987,667 5,818,655 $206 $57 $154 $2,061 $334 $2,435 2018 9,905,364 5,671,046 $374 $196 $311 $3,700 $1,112 $4,848 2019 9,995,696 5,582,962 $510 $304 $438 $5,099 $1,696 $6,818 2020 10,291,562 5,604,377 $634 $415 $557 $6,530 $2,323 $8,858 2021 10,505,165 5,683,902 $767 $763 $766 $8,061 $4,338 $12,400 2022 10,735,777 5,703,996 $1,079 $1,186 $1,115 $11,587 $6,764 $18,323 2023 10,968,003 5,687,486 $1,357 $1,562 $1,425 $14,889 $8,881 $23,734 2024 11,258,138 5,675,949 $1,622 $1,914 $1,718 $18,261 $10,861 $29,101 2025 11,541,560 5,708,899 $1,726 $2,059 $1,836 $19,921 $11,757 $31,678 2026 11,769,401 5,738,877 $1,710 $2,044 $1,820 $20,129 $11,729 $31,858 2027 11,924,679 5,831,703 $1,710 $2,044 $1,820 $20,395 $11,919 $32,314 2028 12,145,791 5,890,166 $1,710 $2,044 $1,819 $20,773 $12,038 $32,811 2029 12,328,967 5,889,501 $1,710 $2,044 $1,818 $21,086 $12,037 $33,123 2030 12,535,870 5,986,092 $1,710 $2,044 $1,818 $21,440 $12,234 $33,674 2031 12,696,592 6,037,145 $1,710 $2,044 $1,818 $21,715 $12,339 $34,054 2032 12,824,800 6,058,174 $1,710 $2,044 $1,817 $21,934 $12,382 $34,316 2033 12,952,075 6,079,180 $1,710 $2,044 $1,817 $22,152 $12,425 $34,577 2034 13,106,966 6,113,440 $1,710 $2,044 $1,816 $22,417 $12,495 $34,911 2035 13,306,338 6,140,326 $1,710 $2,044 $1,816 $22,758 $12,550 $35,307 2036 13,460,858 6,211,631 $1,710 $2,044 $1,816 $23,022 $12,695 $35,717 2037 13,617,173 6,283,763 $1,710 $2,044 $1,816 $23,289 $12,843 $36,132 2038 13,775,303 6,356,734 $1,710 $2,044 $1,816 $23,560 $12,992 $36,552 2039 13,935,269 6,430,551 $1,710 $2,044 $1,816 $23,833 $13,143 $36,976 2040 14,097,092 6,505,226 $1,710 $2,044 $1,816 $24,110 $13,295 $37,406 2041 14,260,795 6,580,769 $1,710 $2,044 $1,816 $24,390 $13,450 $37,840 2042 14,426,399 6,657,188 $1,710 $2,044 $1,816 $24,673 $13,606 $38,279 Millions of 2010 dollars Annual Costs2043 14,593,926 6,734,495 $1,710 $2,044 $1,816 $24,960 $13,764 $38,724 2044 14,763,398 6,812,699 $1,710 $2,044 $1,816 $25,250 $13,924 $39,174 2045 14,934,839 6,891,812 $1,710 $2,044 $1,816 $25,543 $14,085 $39,629 2046 15,108,270 6,971,843 $1,710 $2,044 $1,816 $25,840 $14,249 $40,089 2047 15,283,715 7,052,804 $1,710 $2,044 $1,816 $26,140 $14,415 $40,554 2048 15,461,198 7,134,705 $1,710 $2,044 $1,816 $26,443 $14,582 $41,025 2049 15,640,741 7,217,557 $1,710 $2,044 $1,816 $26,750 $14,751 $41,502 2050 15,822,370 7,301,371 $1,710 $2,044 $1,816 $27,061 $14,923 $41,984 Total $679,771 $376,932 $1,056,723 NPV, 3% $335,714 $185,744 $521,483 NPV, 7% $149,058 $81,893 $230,980