Applicable Federal Rate (AFR)

Annual

Semi-annual

Quarterly

Monthly

Period for Compounding

Short-Term

AFR

 .76%

 .76%

 .76%

 .76%

110% AFR

 .84%

 .84%

 .84%

 .84%

120% AFR

 .91%

 .91%

 .91%

 .91%

130% AFR

 .99%

 .99%

 .99%

 .99%

AFR

2.05%

2.04%

2.03%

2.03%

110% AFR

2.25%

2.24%

2.23%

2.23%

120% AFR

2.47%

2.45%

2.44%

2.44%

130% AFR

2.67%

2.65%

2.64%

2.64%

150% AFR

3.08%

3.06%

3.05%

3.04%

175% AFR

3.60%

3.57%

3.55%

3.54%

AFR

3.58%

3.55%

3.53%

3.52%

110% AFR

3.95%

3.91%

3.89%

3.88%

120% AFR

4.31%

4.26%

4.24%

4.22%

130% AFR

4.67%

4.62%

4.59%

4.58%

Adjusted AFR for May 2009

Period for Compounding

Annual

Semi-annual

Quarterly

Monthly

Short-term adjusted AFR

 .80%

 .80%

 .80%

 .80%

Mid-term adjusted AFR

2.39%

2.38%

2.37%

2.37%

Long-term adjusted AFR

4.58%

4.53%

4.50%

4.49%

Rates Under Section 382 for May 2009

Adjusted federal long-term rate for the current month

4.58%

Long-term tax-exempt rate for ownership changes during the current month (the highest of the adjusted federal long-term rates for the current month and the prior two months).

4.61%

Appropriate Percentages Under Section 42(b)(2)* for May 2009

Appropriate Percentage for the 70% present value low-income housing credit

7.65%

Appropriate Percentage for the 30% present value low-income housing credit

3.28%

* Note: Under Code Sec. 42(b)(2), the applicable percentage for non-federally subsidized new buildings place in service after July 30, 2008, and before Dec. 31, 2013, is not to be less than 9%.

Rate Under Section 7520 for May 2009

Applicable federal rate for determining the present value of an annuity, an interest for life or a term of years, or a remainder or reversionary interest

2.4%