Applicable Federal Rate (AFR)

Annual

Semi-annual

Quarterly

Monthly

Period for Compounding

Short-Term

AFR

4.84%

4.78%

4.75%

4.73%

110% AFR

5.33%

5.26%

5.23%

5.20%

120% AFR

5.82%

5.74%

5.70%

5.67%

130% AFR

6.31%

6.21%

6.16%

6.13%

AFR

4.64%

4.59%

4.56%

4.55%

110% AFR

5.11%

5.05%

5.02%

5.00%

120% AFR

5.59%

5.51%

5.47%

5.45%

130% AFR

6.06%

5.97%

5.93%

5.90%

150% AFR

7.01%

6.89%

6.83%

6.79%

175% AFR

8.19%

8.03%

7.95%

7.90%

AFR

4.91%

4.85%

4.82%

4.80%

110% AFR

5.41%

5.34%

5.30%

5.28%

120% AFR

5.90%

5.82%

5.78%

5.75%

130% AFR

6.41

6.31%

6.26%

6.23%

Adjusted AFR for June 2007

Period for Compounding

Annual

Semi-annual

Quarterly

Monthly

Short-term adjusted AFR

3.52%

3.49%

3.47%

3.46%

Mid-term adjusted AFR

3.68%

3.65%

3.63%

3.62%

Long-term adjusted AFR

4.15%

4.11%

4.09%

4.08%

Rates Under Section 382 for June 2007

Adjusted federal long-term rate for the current month

4.15%

Long-term tax-exempt rate for ownership changes during the current month (the highest of the adjusted federal long-term rates for the current month and the prior two months).

4.15%

Appropriate Percentages Under Section 42(b)(2) for June 2007

Appropriate Percentage for the 70% present value low-income housing credit

8.11%

Appropriate Percentage for the 30% present value low-income housing credit

3.48%

Rate Under Section 7520 for June 2007

Applicable federal rate for determining the present value of an annuity, an interest for life or a term of years, or a remainder or reversionary interest

5.6%