Pretax earnings from continuing operations before adjustment for noncontrolling interests or income loss from equity investees

$

 46,870,319

Add:

   Interest on indebtedness (excluding capitalized interest)

110,466,338

   Amortization of debt related expenses

4,523,304

   Portion of rents representative of the interest factor

4,289,396

166,149,357

Distributed income from equity investees

57,134,176

       Pretax earnings from continuing operations, as adjusted

$

 223,283,533

Fixed charges -

   Interest on indebtedness (including capitalized interest)

$

 115,617,409

   Amortization of debt related expenses

2,313,442

   Portion of rents representative of the interest factor

4,289,396

        Fixed charges

$

 122,220,247

Ratio of earnings to fixed charges

1.83