Applicable Federal Rate (AFR)

Annual

Semi-annual

Quarterly

Monthly

Period for Compounding

Short-Term

AFR

2.25%

2.24%

2.23%

2.23%

110% AFR

2.48%

2.46%

2.45%

2.45%

120% AFR

2.71%

2.69%

2.68%

2.68%

130% AFR

2.93%

2.91%

2.90%

2.89%

AFR

2.97%

2.95%

2.94%

2.93%

110% AFR

3.28%

3.25%

3.24%

3.23%

120% AFR

3.57%

3.54%

3.52%

3.51%

130% AFR

3.88%

3.84%

3.82%

3.81%

150% AFR

4.48%

4.43%

4.41%

4.39%

175% AFR

5.23%

5.16%

5.13%

5.11%

AFR

4.27%

4.23%

4.21%

4.19%

110% AFR

4.70%

4.65%

4.62%

4.61%

120% AFR

5.14%

5.08%

5.05%

5.03%

130% AFR

5.58%

5.50%

5.46%

5.44%

Adjusted AFR for March 2008

Period for Compounding

Annual

Semi-annual

Quarterly

Monthly

Short-term adjusted AFR

2.12%

2.11%

2.10%

2.10%

Mid-term adjusted AFR

2.93%

2.91%

2.90%

2.89%

Long-term adjusted AFR

4.11%

4.07%

4.05%

4.04%

Rates Under Section 382 for March 2008

Adjusted federal long-term rate for the current month

4.11%

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).

4.25%

Appropriate Percentages Under Section 42(b)(2) for March 2008

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

7.84%

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

3.36%

Rate Under Section 7520 for March 2008

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

3.6%