Subject: Carmax
From: "Eric Schwerin" <[email-masked]>
To: "Hunter Biden" <[email-masked]>
Date: Fri, 12 Dec 2014 15:37:53 -0500

There is one in Newark, DE and one in King of Prussia, PA.

Bill says that IF you can get a loss out of the car you should do it this year.  He said it depends on how much you sell it for.  If it is around $51-52K you will have a loss.  If you sell it for closer to $60K you may have a profit.   Jim U. was going to give you $48K for the trade.  Blue Book Value was around $58K.   Bill said to check with him when you have an estimate from CarMax and he can tell you if it will be a loss for sure.   I would say that $55K or less you should be OK (or at worst not have a large profit).  If it is more than $55K you may want to re-think it.   Bottom line though - still better to sell it than to trade it regardless.   And you don’t get much benefit from selling it for more if you have to pay corporate tax on the profit.

Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
[email-masked]
P Consider the environment before printing this email.