Exhibit TN1

DELUXE CORPORATION
Analysis of Flexibility by Rating Category

AAA AA A BBB
1 Pretax cost of debt (case Exhibit 9) 5.51% 5.52% 5.70% 6.33%
2 Required EBIT interest coverage (x) 23.4 13.3 6.3 3.9
(case Exhibit 6)

Estimate of Maximum Debt Capacity

3 Normalized 5-year EBIT1 (case Exhibit 4) $359 $359 $359 $359
4 Maximum interest implied by rating $15 $27 $57 $92
5 Maximum total debt implied by rating $279 $490 $1,002 $1,456

6 Downside EBIT2 $200 $200 $200 $200

7 Maximum interest implied by rating $9 $15 $32 $51
8 Maximum total debt implied by rating $155 $272 $557 $810

Estimate of Unused Debt Capacity

9 Book value of Deluxe's existing debt3 $161 $161 $161 $161
10 Maximum debt implied by rating $279 $490 $1,002 $1,456
11 Unused debt capacity at current rating $117 $328 $840 $1,294
12 Unused debt capacity until investment-
grade rating is lost (at BB) $1,535 $1,325 $813 $358

Estimate of Capital Structure

13 Deluxe Corp. market value of equity4 $2,665 $2,665 $2,665 $2,665
14 Maximum debt implied by rating $279 $490 $1,002 $1,456
15 Total debt/capital implied by rating 9.5% 15.5% 27.3% 35.3%
 BB B
9.01% 11.97%
2.2 1.0

$359 $359
$163 $359
$1,814 $3,004

$200 $200
$91 $200
$1,010 $1,672

$161 $161
$1,814 $3,004
$1,653 $2,842

$0 ($1,190)

$2,665 $2,665
$1,814 $3,004
40.5% 53.0%
 Exhibit TN2
DELUXE CORPORATION
Valuation Analysis

Projected
2002 2003 2004 2005
Valuation Analysis
1 Free cash flow (exhibit 4) $212.2 $216.1 $220.0 $224.6
2 Terminal value 1

3 Total FCF $212.2 $216.1 $220.0 $224.6

4 DCF @... 10% $2,782

5 Less debt 161.5
6 Equity $2,621
7 Shares outstanding (millions) 64.1 WACC = 10.0%
8 Intrinsic value per share $40.88 g= 2.5%
Recent share price $41.58
9 Premium of price vs. value 2%
 2006

$229.7
$3,139.6
$3,369.3
 Exh. TN3

Exhibit TN3
DELUXE CORPORATION
Capital Costs by Rating Category

AAA AA A BBB BB
1 Cost of debt (pretax) 5.47% 5.50% 5.70% 6.30% 9.00%
2 Cost of equity 10.25% 10.35% 10.50% 10.60% 12.00%

3 Approach Based on Hudson Bancorp Estimates of Equity Costs

Tax rate @... 38% AAA AA A BBB BB
4 After-tax cost of debt 3.39% 3.41% 3.53% 3.91% 5.58%
Cost of equity 10.25% 10.35% 10.50% 10.60% 12.00%
Debt/capital (book) (case Exhibit 6) 5.00% 35.90% 42.60% 47.00% 57.70%
Weight of debt (implied by coverage ratio) 9.5% 15.5% 27.3% 35.3% 40.5%
Weight of equity 90.5% 84.5% 72.7% 64.7% 59.5%

5 WACC (using market weights) 9.60% 9.27% 8.60% 8.24% 9.40%

6 WACC (using book weights) 9.91% 7.86% 7.53% 7.45% 8.30%

Alternative Approach Based on CAPM and Levered Beta

AAA AA A BBB BB
Cost of debt (pretax) 5.47% 5.50% 5.70% 6.30% 9.00%
7 Unlevered beta 0.82 0.82 0.82 0.82 0.82
Debt/equity (market) 10.46% 18.37% 37.58% 54.62% 68.07%
8 Relevered beta 0.87 0.91 1.01 1.10 1.16
9 Cost of equity (Rf = 0.0530, EMRP = 0.054) 10.01% 10.23% 10.76% 11.22% 11.59%

After-tax cost of debt 3.39% 3.41% 3.53% 3.91% 5.58%

Cost of equity 10.01% 10.23% 10.76% 11.22% 11.59%
Debt/capital (book) (case Exhibit 9) 5.00% 35.90% 42.60% 47.00% 57.70%
Weight of debt (implied by coverage ratio) 9.5% 15.5% 27.3% 35.3% 40.5%
Weight of equity 90.5% 84.5% 72.7% 64.7% 59.5%

10 WACC (using market weights) 9.38% 9.17% 8.78% 8.64% 9.16%

WACC (using book weights) 9.68% 7.78% 7.68% 7.78% 8.12%

Note: Estimation of Deluxe's Unlevered Beta:

Long-term debt 11.5 Levered beta 0.85
Short-term debt 150.0 Tax rate 38.00%
Total debt 161.5 Risk-free rate 5.30%
Market value of equity 2,665.4 Market premium 5.40%
Debt/capital (market) 5.71%
Debt/equity (market) 6.06% Unlevered beta 0.82

EMRP = equity market risk premium.

Rf = risk-free rate.

Page 5
 Exh. TN3

B
12.00%
14.25%

B
7.44%
14.25%
75.10%
53.0%
47.0%

10.64%
9.14%

B
12.00%
0.82
112.70%
1.39
12.82%

7.44%
12.82%
75.10%
53.0%
47.0%

9.97%
8.78%

Page 6
 Cost of Equity Estimates: CAPM vs. Hudson

14.50% Hudson CAPM

14.00%

13.50%
Cost of Equity

13.00%

12.50%

12.00%

11.50%

11.00%

10.50%

10.00%

9.50%
AAA AA A BBB BB B

Rating Category
 WACC Estimates: CAPM vs. Hudson

Hudson CAPM
11.00%

10.50%
Cost of Capital

10.00%

9.50%

9.00%

8.50%

8.00%

7.50%
AAA AA A BBB BB B

Rating Category
 Exh
Key Industrial Financial R

AAA
Key Industrial Financial Ratios (Three-year medians 2000-2002) Debt 123.63179 5.47%
Computed
Want: AAA Ratio Difference
Normalized EBIT interest coverage (x) Greater 23.4 53.1 29.7
Normalized EBITDA Interest coverage (x) Greater 25.3 60.5 35.2
Funds from operations/total debt (%) Greater 214.2 214.2 0.0
Free operating cash flow/total debt (%) Greater 156.6 178.4 21.8
Return on capital (%) Greater 35.0 177.6 142.6
Operating income/sales (%) Greater 23.4 64.5 41.1
Total debt/capital, incl. short-term debt (%) Less 5.0
Min: 0.0
 Exhibit 6
Key Industrial Financial Ratios by Rating Categories
Credit Rating
AA A BBB
Debt 403.07365 5.50% Debt 627.53409 5.70% Debt 865.42287 5.70% Debt
Computed Computed Computed
AA Ratio Difference A Ratio Difference BBB Ratio Difference BB
13.3 16.2 2.9 6.3 10.0 3.7 3.9 7.3 3.4 2.2
16.9 18.5 1.6 8.5 11.4 2.9 5.4 8.3 2.9 3.2
65.7 65.7 - 42.2 42.2 0.0 30.6 30.6 (0.0) 19.7
33.6 54.7 21.1 22.3 35.1 12.8 12.8 25.5 12.7 7.3
26.6 74.6 48.0 18.1 50.9 32.8 13.1 38.1 25.0 11.5
24.0 64.5 40.5 18.1 64.5 46.4 15.5 64.5 49.0 15.4
35.9 42.6 47.0 57.7
Min: - Min: 0.0 Min: (0.0)

AAA AA A BBB BB B
Cost of
Debt (pre-
tax) 5.47% 5.50% 5.70% 6.30% 9.00% 12.00%

Cost of
Equity 10.25% 10.35% 10.50% 10.60% 12.00% 14.25%
 BB B Sum
1344.2608 9.00% Debt 2006.9512 12.00% 5370.874
Computed Computed
Ratio Difference B Ratio Difference
3.0 0.8 1.0 1.5 0.5
3.4 0.2 1.7 1.7 0.0
19.7 0.0 10.4 13.2 2.8
16.4 9.1 1.5 11.0 9.5
25.3 13.8 8.0 17.2 9.2
64.5 49.1 14.7 64.5 49.8
75.1
Min: 0.0 Min: 0.0 (0.0)
 Exh. 1

1992 1993 1994 1995 1996 1997 1998 1999 2000 2001
Selected Income Statement Information
Net Sales $ 1,534.4 $ 1,581.8 $ 1,747.9 $ 1,858.0 $ 1,895.7 $ 1,919.4 $ 1,931.8 $ 1,650.5 $ 1,262.7 $ 1,278.4
Operating Expenses 722.2 739.5 797.3 819.4 862.4 806.7 805.9 688.9 417.9 421.1
Profit from Opns. 812.2 842.3 950.6 1,038.6 1,033.3 1,112.7 1,125.9 961.6 844.8 857.2
Interest Expense 15.4 10.3 11.3 14.7 12.0 9.7 9.7 9.5 10.8 5.6
Net Earnings 202.8 141.9 140.9 87.0 65.5 44.7 143.1 203.0 161.9 185.9

Common Shares, End of Year (000s) 83,797 82,549 82,375 82,364 82,056 81,326 80,481 72,020 72,555 64,102
Common Shares Repurchased (000s) (2,197) (1,341) (1,191) (1,414) (1,715) (1,833) (9,573) (48) (11,332) (3,898)
Common Shares Issued (000s) 949 1,167 1,181 1,106 985 988 1,112 583 2,890 1,255

Earnings Per Share1 $ 2.42 $ 2.09 $ 1.71 $ 1.15 $ 1.65 $ 2.15 $ 2.34 $ 2.64 $ 2.34 $ 2.70
Dividend Per Share $ 1.34 $ 1.42 $ 1.46 $ 1.48 $ 1.48 $ 1.48 $ 1.48 $ 1.48 $ 1.48 $ 1.48

Selected Balance Sheet Information

Working Capital $ 330.9 $ 386.9 $ 224.5 $ 130.4 $ 12.3 $ 108.1 $ 131.0 $ 167.8 $ 14.0 $ 116.6
Net Property, Plant & Equipment 389.0 401.6 461.8 494.2 446.9 415.0 340.1 294.8 174.0 149.6
Total Assets 1,199.6 1,252.0 1,256.3 1,295.1 1,176.4 1,148.4 1,171.5 992.6 649.5 537.7
Long-Term Debt 115.5 110.8 110.9 111.0 108.9 110.0 106.3 115.5 10.2 10.1
Common Stockholders' Equity 829.8 801.2 814.4 780.4 712.9 610.2 606.6 417.3 262.8 78.6

Book Value: LT Debt/Capital 12.2% 12.1% 12.0% 12.5% 13.3% 15.3% 14.9% 21.7% 3.7% 11.4%
Market Value: LT Debt/Capital 2.9% 3.6% 4.9% 4.4% 3.9% 3.8% 3.5% 5.5% 0.6% 0.4%

Selected Valuation Information

(year-end)
Deluxe Corp. Stock Price $ 46.75 $ 36.25 $ 26.38 $ 29.00 $ 32.75 $ 34.50 $ 36.56 $ 27.44 $ 25.27 $ 41.58
S&P 500 Composite Index 418.17 464.30 462.62 576.70 700.92 941.64 1,072.32 1,281.91 1,364.44 1,104.61
Deluxe Corp. Average P/E2 17.60x 19.00x 17.40x 25.90x 20.60x 15.40x 14.30x 12.70x 10.20x 11.01x
S&P 500 Composite Average P/E 2
24.38x 24.11x 18.36x 16.92x 20.26x 23.88x 27.45x 31.43x 26.29x 29.50x
Deluxe Corp. Market/Book Ratio 4.72x 3.73x 2.67x 3.06x 3.77x 4.60x 4.85x 4.74x 6.98x 33.91x
Deluxe Corp. Beta 1.00 1.00 1.00 0.95 0.90 0.95 0.85 0.90 0.90 0.85
Yield on 20-Year T-Bonds 7.67% 6.48% 8.02% 6.01% 6.73% 6.02% 5.39% 6.83% 5.59% 5.74%
Yield on 90-day T-Bills 3.08% 3.01% 5.53% 4.96% 5.07% 5.22% 4.37% 5.17% 5.73% 1.71%
Total Annual Ret. on Large Co. Stocks 7.67% 9.99% 1.31% 37.43% 23.07% 33.36% 28.58% 21.04% -9.11% -11.88%
Notes:

Page 12
 Exh. 2

Exhibit 2
Deluxe Corp.
Consolidated Statement of Income
(in U.S. $ millions)

Years ended December 31,

2001 2000

Revenue $ 1,278.4 $ 1,262.7

Cost of Goods Sold 453.8 453.0

Selling, general & admin. expense 514.4 518.2
Goodwill amortization expense 6.2 5.2
Asset impariment and disposition losses 2.1 7.3
Total Costs 976.4 983.8
Profit/(Loss) from Operations 302.0 278.9

Interest Income 2.4 4.8

Other Income (1.2) 1.2
Interest Expense (5.6) (11.4)
Earnings/(Loss) Before Taxes 297.6 273.4
Tax Expense 111.6 104.0
Discontinued Operations Income/(Loss) - (7.5)
Net Earnings/(Loss) 185.9 161.9

Source of data: Company regulatory filings.

Page 13
 Exh. 3

Exhibit 3
Deluxe Corp.
Consolidated Balance Sheets
(in U.S. $ millions)

2001 2000
Assets
Current Assets
Cash and Cash Equivalents $ 9.6 $ 80.7
Marketable securities - 18.5
Trade accounts receivable-net 37.7 46.0
Inventories 11.2 11.3
Supplies 11.1 11.8
Deferred income taxes 4.6 7.4
Prepaid Expenses and Other 9.9 12.0
Total Current Assets 84.0 187.8
Long-Term Investments 37.7 35.6
Property, Plant and Equipment, Net 151.1 174.0
Intangibles - Net 115.0 134.5
Goodwill - Net 82.2 88.4
Other Non-Current Assets 67.9 36.2
Total Assets $ 537.8 $ 656.4

Liabilities and Stockholders' Equity

Current Liabilities
Accounts payable $ 52.8 $ 44.7
Accrued liabilities 162.9 148.5
Short-Term Debt 150.0 -
Long-Term Debt due within one year 1.4 100.7
Total Current Liabilities 367.1 293.9
Long-Term Debt 10.1 10.2
Deferred Income Taxes 44.9 51.1
Other Long-Term Liabilities 37.0 38.3
Total Liabilities 459.1 393.5
Common Stockholders' Equity
Common shares 64.1 72.6
Additional Paid-In Capital - 44.2
Retained Earnings 14.6 146.2
Unearned compensation 0.1 0.1
Accum. other comprehensive income - (0.2)
Total Common Stockholders Equity 78.7 262.9
Total Liabilities and Stockholders' Equity $ 537.8 $ 656.4

Source of data: Company regulatory filings.

Page 14
 Exh. 4

Exhibit 4
Deluxe Corp. Financial Forecast, 2002-2006
(values in U.S. $ millions)

Actual Projected
2001 2002 2003 2004
Annual Increase in Sales 1.2% 1.4% 1.6% 2.0%
Opng. Profit/Sales 23.6% 26.6% 26.7% 26.7%
Tax Rate 37.0% 38.0%
Wkg. Capital/Sales 9.1% 9.1%
Dividend Payout Ratio 52.0%
Income Statement
Net Sales $ 1,278.4 $ 1,296.3 $ 1,317.0 $ 1,343.4
Operating Profit 302.0 344.8 351.6 358.7
Interest Expense, net 3.2 4.0 4.0 4.0
Pre-Tax Income 298.8 340.8 347.6 354.7
Tax Expense 111.6 129.5 132.1 134.8
Net Income 187.1 211.3 215.5 219.9
Dividends 94.9 94.9 94.9 94.9
Retentions to Earnings $ 92.2 $ 116.4 $ 120.7 $ 125.0
Balance Sheet
Cash $ 9.6 $ 124.3 $ 243.1 $ 365.8
Working Capital (without debt) 116.6 118.2 120.1 122.5
Net Fixed Assets 151.1 151.1 151.1 151.1
Total Assets 277.2 393.6 514.3 639.3

Debt (long and short term) 161.5 161.5 161.5 161.5

Other long-term liabilities 37.0 37.0 37.0 37.0
Equity 78.7 195.2 315.8 440.9
Total Capital $ 277.2 $ 393.6 $ 514.3 $ 639.3
Free Cash Flows
EBIT $ 344.8 $ 351.6 $ 358.7
Less Taxes on EBIT (131.0) (133.6) (136.3)
Plus Depreciation 50.0 50.0 50.0
Less Capital Expenditures (50.0) (50.0) (50.0)
Less Additions to/plus Reductions in Wkg. Cap. (1.6) (1.9) (2.4)
Free Cash Flow $ 212.2 $ 216.1 $ 220.0

Page 15
 Exh. 4

2005 2006
2.2% 2.4%
26.7% 26.7%

$ 1,372.9 $ 1,405.9
366.6 375.4
4.0 4.0
362.6 371.4
137.8 141.1
224.8 230.3 214.8
94.9 94.9
$ 129.9 $ 135.4

$ 493.0 $ 625.4
125.2 128.2
151.1 151.1
769.3 904.6

161.5 161.5
37.0 37.0
570.8 706.2
$ 769.3 $ 904.6
Average
$ 366.6 $ 375.4 $ 359.4
(139.3) (142.6) $ (136.6)
50.0 50.0 $ 50.0
(50.0) (50.0) $ (50.0)
(2.7) (3.0) $ (2.3)
$ 224.6 $ 229.7 $ 220.5

Page 16
 Exh. 6

Exhibit 6
Key Industrial Financial Ratios by Rating Categories
Credit Rati
AAA AA
-----------------------Investment Grade----------------
Key Industrial Financial Ratios (Three-year medians 2000-2002)

EBIT interest coverage (x) 23.4 13.3

EBITDA Interest coverage (x) 25.3 16.9
Funds from operations/total debt (%) 214.2 65.7
Free operating cash flow/total debt (%) 156.6 33.6
Return on capital (%) 35.0 26.6
Operating income/sales (%) 23.4 24.0
Long-term debt/capital (%) (1.1) 21.1
Total debt/capital, incl. short-term debt (%) 5.0 35.9

Page 17
 Exh. 6

ing Categories
Credit Rating
A BBB BB B
----Investment Grade------------------------- -----Non-investment Grade----

6.3 3.9 2.2 1.0

8.5 5.4 3.2 1.7
42.2 30.6 19.7 10.4
22.3 12.8 7.3 1.5
18.1 13.1 11.5 8.0
18.1 15.5 15.4 14.7
33.8 40.3 53.6 72.6
42.6 47.0 57.7 75.1

Page 18
 60.0x
EBIT Divided By Interest

50.0x

40.0x

30.0x
55.2x

20.0x

32.4x 32.8x
31.0x
27.3x 26.3x

21.0x 21.9x
20.7x
10.0x
16.1x

0.0x
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001
 Exhibit 8
Capital Costs by Rating Category

AAA AA A BBB BB B
Cost of Debt
(pre-tax) 5.47% 5.50% 5.70% 6.30% 9.00% 12.00%
Cost of
Equity 10.25% 10.35% 10.50% 10.60% 12.00% 14.25%

Source of data: Hudson Bancorp

 Exhibit 9
Capital Market Conditons
(as of July 31, 2002)

U.S. Treasury Obligations Yield Other Instruments

90-day bills 1.69% Discount Notes
180-day bills 1.68% Certificates of Deposit (3-month)
2-year notes 2.23% Commercial Paper (6-month)
3-year notes 2.79% Term Fed Funds
5-year notes 3.45%
10-year notes 4.46%
30-year notes 5.30%

Corporate Debt Obligations (10-year) Yield

AAA 5.51%
AA 5.52%
A 5.70%
BBB 6.33%
BB 9.01%
B 11.97%

Source of data: Bloomberg LP, S&P's Research Insight, Value Line Investment Survey, Datastream Advance
 Yield
1.70%
1.72%
1.75%
1.78%
 Exhibit 7
Deluxe Corp.
EBIT Interest Coverage Ratios By Year

1992 1993 1994 1995 1996 1997 1998

EBIT 322.2 280.8 233.7 236.3 262.8 315.9 316.6
Interest expense 15.4 10.3 11.3 14.7 12.0 9.7 9.7
Coverage ratio (x) 21.0x 27.3x 20.7x 16.1x 21.9x 32.4x 32.8x
 1999 2000 2001
293.8 284.7 308.2
9.5 10.8 5.6
31.0x 26.3x 55.2x
 AAA AA A BBB BB
Weighted Average Cost of Capital
CAPM 9.38% 9.17% 8.78% 8.64% 9.16%
Hudson 9.60% 9.27% 8.60% 8.24% 9.40%
Cost of Equity AAA AA A BBB BB
CAPM 10.01% 10.23% 10.76% 11.22% 11.59%
Hudson 10.25% 10.35% 10.50% 10.60% 12.00%
B

9.97%
10.64%
B
12.82%
14.25%
DELUXE CORP Sources of data:
TICKER: DLX S&P's Research Insight, Value Line Investment Survey, Datastr
SIC: 2780
GICS: 20201010
Dec92 Dec93 Dec94 Dec95 Dec96
Sales 1534.351 1581.767 1747.92 1857.981 1895.664
Cost of Sales 722.155 739.493 797.314 819.408 862.358
Gross Profit 812.1959 842.274 950.606 1038.573 1033.306
EBITDA 388.834 353.147 320.075 339.587 329.078
EBIT 322.219 280.827 233.659 236.284 262.809
Interest Expense 15.371 10.276 11.305 14.714 11.978
Total Taxes 121.999 94.052 100.02 74.885 53.302
Depreciation 66.615 72.32 86.416 103.303 66.269
Net Income 202.784 141.861 140.866 87.021 65.463

Com Shares Outstanding 83.797 82.549 82.375 82.364 82.056

Treasury Stock-# Com Shares 0 0 0 0 0
Treasury Stock-Total $ Amt 0 0 0 0 0
Earnings Per Share (Value Line) 2.42 2.09 1.71 1.15 1.65
Div. Per Share (Value Line) 1.34 1.42 1.46 1.48 1.48

Working Capital (Value Line) 330.9 386.9 224.5 130.4 12.3

PP&E-Total Net 389.017 401.641 461.818 494.158 446.858
Assets-Total 1199.556 1251.994 1256.272 1295.095 1176.44
LT Debt-Total 115.522 110.755 110.867 110.997 108.937
Preferred Stock 0 0 0 0 0
Common Equity-Total 829.808 801.249 814.393 780.374 712.916

Long-Term Debt/Total Capital 12.22028 12.14413 11.98225 12.45239 13.25505

Price-Close Fiscal Year 46.75 36.25 26.375 29 32.75

Avg. Annl. P/E (Value Line) 17.6 19 17.4 25.9 20.6
Price to Book Fiscal Yr End 4.720983 3.734671 2.667804 3.060783 3.769496
Beta
Gov Bonds-20 Year 7.67 6.48 8.02 6.01 6.73
T-Bill-3 Month 3.08 3.01 5.53 4.96 5.07
S&P 500 (Datastream) 418.17 464.30 462.62 576.70 700.92
S&P 500 P/E (Datastream) 24.38 24.11 18.36 16.92 20.26
Line Investment Survey, Datastream Advance

Dec97 Dec98 Dec99 Dec00 Dec01

1919.366 1931.796 1650.5 1262.712 1278.375
806.671 805.874 688.936 417.882 421.149
1112.695 1125.922 961.564 844.83 857.226
384.729 375.541 348.099 318.054 345.857
315.913 316.61 293.794 284.679 308.2
9.742 9.664 9.479 10.837 5.583
70.478 99.852 121.633 103.957 111.634
68.816 58.931 54.305 33.375 37.657
44.672 143.063 203.022 161.936 185.9

81.326 80.481 72.02 72.555 64.102

0 0 0 0 0
0 0 0 0 0
2.15 2.34 2.64 2.34 2.70
1.48 1.48 1.48 1.48 1.48

108.1 131 167.8 14 116.6

415.008 340.077 294.785 173.956 149.552
1148.364 1171.519 992.643 649.469 537.721
109.986 106.321 115.542 10.201 10.084
0 0 0 0 0
610.248 606.565 417.308 262.808 78.605

15.27087 14.91417 21.68378 3.736507 11.37007

34.5 36.5625 27.4375 25.27 41.58

15.4 14.3 12.7 10.2 11.01
4.597716 4.849 4.984877 6.976538 35.10112
0.90 0.90 0.85
6.02 5.39 6.83 5.59 5.74
5.22 4.37 5.17 5.73 1.71
941.64 1072.32 1281.91 1364.44 1104.61
23.88 27.45 31.43 26.29 29.50