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Hi Sir, i noted that there is a Admin service charges $0.2M, rental income 22M
My question is, when we calculate the return for each different class loan note holder, we should use the balance of 22M-0.2M?
for eg, the balance to the subordinated certificates is 22-0.2-11.88-3.24-3.51=3.17?
or 22-11.88-3.24-3.51-0.2=3.17?
my concern is the order of admin service charges 0.2.
we need to use the net income 21.80 or 22 to start the payable calculation?
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