◆ SpookStack

PROPOSED BUDGET (1 Feb 1956 ■ to. 1 Feb 195?) Direct Labor $23,594 Materials 4,000 Overhead (83.21$ of $23,594}*, 19,633 Travel 800 Consultant Fees 1,000 ■A. A' Laboratoiy Equipment 10,000 Contingencies 973 Total $60,000 * See attached letter for breakdown. ** In regard to the laboratory equipment the following stipulations are proposed : a. The laboratory -equipment will be purchased by the contractor at the start of the years program, however, the sponsor will remain legal owner of the equipment. b. The book value of the above equipment will then be depreciated ever a five year period by the sum of the digits method. The schedule of depreciation will then be as follows : 'st year =5/15 original cost 2nd year = 4/ 15 11 ” 3rd year = 3/l 5 «. » 4th year = 2/ 15 " « 5th year = l/l5 " " c. If at any time the sponsor withdraws financial support, the contractor is then to be granted 1 year rent-free use of the equipment . d. At the end of this grace period the contractor has then the option of purchase from the sponsor of any or all items of equipment at the then depreciated value. e. At the end of the five years of life the individual items of equipment have no book value and automatically become the property of the contractor. SENSITIVE INTELUGENCf PURGES AND METHODS INVOLVE!)"