Table 5

Simulated Annual Economic Profit (July-June) for July 2004-June 2007 for Low and High Cost Assumptions

Scenario	Economic Profit, Low Cost (millions of dollars)	% Max. Economic Profit	Economic Profit, High Cost (millions of dollars)	% Max. Economic Profit
July 2004 to June 2005
Actual catch and effort	39.4	42	16.5	22
Max. net revenue	83.1	90	55.4	75
ITQ	83.2	90	51.7	70
Max. economic profit	92.8	100	73.8	100
July 2005 to June 2006
Actual catch and effort	55.0	56	31.5	40
Max. net revenue	92.0	93	67.3	85
ITQ	94.8	96	61.4	78
Max. economic profit	98.7	100	79.0	100
July 2006 to June 2007
Actual catch and effort	65.5	57	42.9	46
Max. net revenue	108.2	94	86.4	92
ITQ	109.7	96	80.9	86
Max. economic profit	114.5	100	93.7	100