Workout three asks us to calculate the excess spread of the clo that we worked out in exercises one and two so if we were to go up to workout one and take the weighted average return of 3.62 and then also take the weighted average cost of the liabilities.

that which is paid to the Debt holders of the special purpose vehicle and take the difference between the two we would calculate with the excess spread is to the issuer of the fund and that's 1.79% And of course not assuming fees or other kinds of expenses. This is the amount that would effectively be paid to the equity holders of the trash.