Quarterly report pursuant to Section 13 or 15(d)

Intangibles (Tables)

v2.4.0.6
Intangibles (Tables)
9 Months Ended
Aug. 31, 2012
Intangibles [Abstract]  
Amortization of the intangible lease asset

Amortization of the intangible lease asset is reflected in the accompanying Consolidated Statements of Income as a reduction to lease income.

 

                 

Description

  August 31, 2012     November 30, 2011  

Intangible lease asset

  $ 1,094,771     $ 1,094,771  

Accumulated amortization

    (340,595     (121,641
   

 

 

   

 

 

 

Net intangible lease asset

  $ 754,176     $ 973,130  
   

 

 

   

 

 

 
Remaining estimated amortization on the lease

Remaining estimated amortization on the lease is as follows:

 

         

Period

  Amount  

September 1 – November 30, 2012

  $ 72,985  

2013

    291,939  

2014

    291,939  

2015

    97,313  

Thereafter

    —    
   

 

 

 

Total

  $ 754,176