You can’t “annualize” a current expense and spread it out like an amortized capital cost. We are talking real cash flow. $17 million is real $$ . If you even take a modest rate of cost of capital of 2.5% that would mean another $425,000 In expense. As to the rest of the assumptions, there is a lot lollipop and unicorn assumptions in there but that’s ok if they are within reason. Generally you need to haircut assumptions as a function of time and probability. If you move the $17 million to the front where it belongs, the analysis changes immensely and if you properly discount actual inflows over 10 years, the BE proposition is a nonstarter over the first five years. As I said before, the suitability of the move hangs on meeting some aggressive assumptions in years 5-10.