Free Report - District Court of Arizona - Arizona

Dr. Robert E. Grosse Conti Group Chair of International Management [email protected]

November 14, 2005 Mr. Robert Gregory, P.C. 1930 S. Alma School Road, suite A-115 Mesa, AZ 85210 [email protected]

Dear Mr. Gregory: I am sending you this report in fulfillment of my agreement to carry out a valuation of future earnings of Mr. Gant, who works at the Pinal County Sheriff's Office here in the Arizona. In this report I will explain my relevant background and qualifications, the materials I have reviewed in coming to my valuation, and the basis for my opinion. I am Professor Robert Grosse, a tenured full professor at Thunderbird, The Garvin School of International Management. I have taught here for 12 years, and before that I taught at the University of Miami for approximately 20 years. I have a Ph.D. in economics, and I have taught international finance and international business, as well as corporate finance and statistics, at these two universities and at several others over the years. My curriculum vitae is available at: http://www.thunderbird.edu/faculty/133255/index.htm. During the past 16 years I have testified in approximately 40 Federal court cases, and in another dozen State and foreign court cases. This testimony has been based on my knowledge of financial markets and financial valuations, as well as on the subject of money laundering. I have testified on the valuation of future earnings of a foreign worker who died while working in the United States, on the valuation of a piece of equipment (carousel) used in business in Phoenix, on the valuation of property damaged by currency devaluation, and on the valuation of exports lost due to foreign unfair competition, among other cases. For the current case I have been paid $260 per hour (plus an additional fee charged by the consulting firm through which I work). I have worked thus far 5 hours on this case. I have reviewed for my valuation of Mr. Gant's future earnings a number of documents that were provided by Mr. Robert Gregory, including: W-2 pages and the 1040A form from the 2004 Federal income tax filing by Mr. Gant and his wife; several documents related to his earnings and terms of employment at the Sheriff's office; and additional information that I obtained on the internet concerning interest rates, inflation rates, and insurance premium rates. My opinion is presented on the four pairs of Excel sheets in which I offer my numerical report. The total present value of earnings that Mr. Gant would have received from the Pinal County Sheriff's

15249 N. 59th Avenue · Glendale, AZ 85306-6000 USA · (602) 978-7716 · FAX (602) 978-7729 · AACSB Accredited

Case 2:03-cv-02077-EHC

Document 72

Filed 11/14/2005

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Dr. Robert E. Grosse Conti Group Chair of International Management [email protected]

Office if he had worked until age 65, as a Sergeant instead of a Corporal, at the beginning of 2005, is $39,206. The total present value of earnings that Mr. Gant would have received from the Pinal County Sheriff's Office if he had worked until age 65, as a Lieutenant instead of a Corporal, at the beginning of 2005, is $88,908. If Mr. Gant were to leave the Sheriff's office in 2005, the three valuations of his expected future earnings until age 65 are presented on the separate Excel files for each officer category. I would be happy to provide any clarification that may be needed on this report. Sincerely,

Robert Grosse

15249 N. 59th Avenue · Glendale, AZ 85306-6000 USA · (602) 978-7716 · FAX (602) 978-7729 · AACSB Accredited

Case 2:03-cv-02077-EHC

Document 72

Filed 11/14/2005

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