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Message: [QUOTE="Townie72, post: 1744445, member: 780"] The Revenue number is pretty easy to get to. But as you know, the key to this is understanding the $67.4 M of Expense. 200 scholarships at $40K each is $8 Million. How much of the $60 remaining "expense" is allocations of fixed expense? Let me control the allocations of fixed expense and I can produce whatever profit number you want (within certain limits) by shifting expenses from one are4a to another. [/QUOTE]