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        <AdjustedNetIncomeAmt>3286</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAIL</PropertyDesc>
        <AcquiredDt>2018-03-13</AcquiredDt>
        <CostOrOtherBasisAmt>32209</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>7158</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>3.000000000000</LifeRt>
        <CurrentYearExpenseAmt>10736</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>10736</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAIL</PropertyDesc>
        <AcquiredDt>2018-03-13</AcquiredDt>
        <CostOrOtherBasisAmt>1294</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>288</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>3.000000000000</LifeRt>
        <CurrentYearExpenseAmt>431</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>431</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAIL</PropertyDesc>
        <AcquiredDt>2018-03-13</AcquiredDt>
        <CostOrOtherBasisAmt>650</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>144</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>3.000000000000</LifeRt>
        <CurrentYearExpenseAmt>217</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>217</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>RUDDER</PropertyDesc>
        <AcquiredDt>2018-04-19</AcquiredDt>
        <CostOrOtherBasisAmt>12866</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>643</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
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        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>1287</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING HARDWARE</PropertyDesc>
        <AcquiredDt>2018-05-30</AcquiredDt>
        <CostOrOtherBasisAmt>32859</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>1369</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
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        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>3286</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>RUDDER</PropertyDesc>
        <AcquiredDt>2018-06-18</AcquiredDt>
        <CostOrOtherBasisAmt>12866</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>429</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
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        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>1287</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAIL</PropertyDesc>
        <AcquiredDt>2018-07-05</AcquiredDt>
        <CostOrOtherBasisAmt>32209</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>3579</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>3.000000000000</LifeRt>
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        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>10736</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING HARDWARE</PropertyDesc>
        <AcquiredDt>2018-11-26</AcquiredDt>
        <CostOrOtherBasisAmt>30173</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
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        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>2766</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAIL</PropertyDesc>
        <AcquiredDt>2018-12-17</AcquiredDt>
        <CostOrOtherBasisAmt>306</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>3.000000000000</LifeRt>
        <CurrentYearExpenseAmt>85</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>85</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING HARDWARE</PropertyDesc>
        <AcquiredDt>2019-01-07</AcquiredDt>
        <CostOrOtherBasisAmt>439</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
        <CurrentYearExpenseAmt>37</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>37</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING HARDWARE</PropertyDesc>
        <AcquiredDt>2019-02-14</AcquiredDt>
        <CostOrOtherBasisAmt>1800</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
        <CurrentYearExpenseAmt>135</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>135</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING SPARS AND HARDWARE</PropertyDesc>
        <AcquiredDt>2019-01-29</AcquiredDt>
        <CostOrOtherBasisAmt>26647</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
        <CurrentYearExpenseAmt>1999</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>1999</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING HARDWARE</PropertyDesc>
        <AcquiredDt>2019-03-27</AcquiredDt>
        <CostOrOtherBasisAmt>863</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
        <CurrentYearExpenseAmt>50</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>50</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING HARDWARE</PropertyDesc>
        <AcquiredDt>2019-03-05</AcquiredDt>
        <CostOrOtherBasisAmt>30173</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
        <CurrentYearExpenseAmt>2012</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>2012</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING SPARS AND HARDWARE</PropertyDesc>
        <AcquiredDt>2019-03-22</AcquiredDt>
        <CostOrOtherBasisAmt>4205</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
        <CurrentYearExpenseAmt>245</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>245</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAIL</PropertyDesc>
        <AcquiredDt>2019-03-08</AcquiredDt>
        <CostOrOtherBasisAmt>23269</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>3.000000000000</LifeRt>
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        <AdjustedNetIncomeAmt>5171</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING SPARS AND HARDWARE</PropertyDesc>
        <AcquiredDt>2019-03-08</AcquiredDt>
        <CostOrOtherBasisAmt>2000</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
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        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>133</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAIL</PropertyDesc>
        <AcquiredDt>2019-04-17</AcquiredDt>
        <CostOrOtherBasisAmt>23269</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>3.000000000000</LifeRt>
        <CurrentYearExpenseAmt>3878</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>3878</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAIL</PropertyDesc>
        <AcquiredDt>2019-04-17</AcquiredDt>
        <CostOrOtherBasisAmt>736</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>3.000000000000</LifeRt>
        <CurrentYearExpenseAmt>123</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>123</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING HARDWARE</PropertyDesc>
        <AcquiredDt>2019-06-12</AcquiredDt>
        <CostOrOtherBasisAmt>807</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
        <CurrentYearExpenseAmt>34</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>34</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING HARDWARE</PropertyDesc>
        <AcquiredDt>2019-06-17</AcquiredDt>
        <CostOrOtherBasisAmt>1213</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
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        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>40</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING HARDWARE</PropertyDesc>
        <AcquiredDt>2019-04-17</AcquiredDt>
        <CostOrOtherBasisAmt>15071</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
        <CurrentYearExpenseAmt>754</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>754</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING HARDWARE</PropertyDesc>
        <AcquiredDt>2019-06-20</AcquiredDt>
        <CostOrOtherBasisAmt>13562</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
        <CurrentYearExpenseAmt>452</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>452</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING HARDWARE</PropertyDesc>
        <AcquiredDt>2019-07-19</AcquiredDt>
        <CostOrOtherBasisAmt>10666</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
        <CurrentYearExpenseAmt>267</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>267</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>YACHT RIGGING</PropertyDesc>
        <AcquiredDt>2019-07-15</AcquiredDt>
        <CostOrOtherBasisAmt>2757</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
        <CurrentYearExpenseAmt>92</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>92</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING HARDWARE</PropertyDesc>
        <AcquiredDt>2019-08-15</AcquiredDt>
        <CostOrOtherBasisAmt>2170</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
        <CurrentYearExpenseAmt>54</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>54</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING HARDWARE</PropertyDesc>
        <AcquiredDt>2019-08-01</AcquiredDt>
        <CostOrOtherBasisAmt>15900</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
        <CurrentYearExpenseAmt>398</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>398</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAIL</PropertyDesc>
        <AcquiredDt>2019-08-15</AcquiredDt>
        <CostOrOtherBasisAmt>3373</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>3.000000000000</LifeRt>
        <CurrentYearExpenseAmt>281</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>281</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>YACHT RIGGING</PropertyDesc>
        <AcquiredDt>2019-08-15</AcquiredDt>
        <CostOrOtherBasisAmt>2098</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
        <CurrentYearExpenseAmt>52</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>52</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING HARDWARE</PropertyDesc>
        <AcquiredDt>2019-08-23</AcquiredDt>
        <CostOrOtherBasisAmt>17640</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
        <CurrentYearExpenseAmt>294</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>294</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING HARDWARE</PropertyDesc>
        <AcquiredDt>2019-09-11</AcquiredDt>
        <CostOrOtherBasisAmt>2818</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
        <CurrentYearExpenseAmt>47</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>47</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SAILING HARDWARE</PropertyDesc>
        <AcquiredDt>2019-09-25</AcquiredDt>
        <CostOrOtherBasisAmt>3519</CostOrOtherBasisAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>10.000000000000</LifeRt>
        <CurrentYearExpenseAmt>29</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>29</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
    </DepreciationSchedule>
    <LandEtcSchedule2 documentId="RetDoc2059000001">
      <LandEtcGrp>
        <CategoryOrItemTxt>YACHT COURAGEOUS</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1016428</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>1016428</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>COURAGEOUS IMPROVEMENTS - OCTOBER 2003</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>289689</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>289689</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>TENDER IMPROVEMENTS</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>49389</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>49389</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>COURAGEOUS IMPROVEMENTS - AUGUST 2004</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>56031</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>56031</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>COURAGEOUS IMPROVEMENTS - MAY 2005</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>65626</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>65626</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>COMPUTER</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1235</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>1235</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>NAVIGATION SOFTWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1295</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>1295</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>COURAGEOUS IMPROVEMENTS - MAY 3, 2007</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>4738</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>4738</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>COURAGEOUS IMPROVEMENTS - MAY 17, 2007</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>4218</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>4218</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>COURAGEOUS IMPROVEMENTS - JUNE 2008</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>47182</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>47182</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>NAVIGATION SOFTWARE - Y/E 10/10</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>8657</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>8657</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>COURAGEOUS IMPROVEMENTS - JULY 2011</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>40439</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>33700</AccumulatedDepreciationAmt>
        <BookValueAmt>6739</BookValueAmt>
        <EOYFMVAmt>6739</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>COURAGEOUS IMPROVEMENTS - MAY 2011</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>40550</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>34468</AccumulatedDepreciationAmt>
        <BookValueAmt>6082</BookValueAmt>
        <EOYFMVAmt>6082</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>COURAGEOUS IMPROVEMENTS - 2012</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>104039</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>77163</AccumulatedDepreciationAmt>
        <BookValueAmt>26876</BookValueAmt>
        <EOYFMVAmt>26876</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>COMPUTER</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>5216</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>5216</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>COMPUTER EQUIPMENT</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>9313</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>9313</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>24296</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>24296</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>24295</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>24295</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>14473</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>14473</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>12597</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>12597</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>14952</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>14952</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1583</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>1583</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>7272</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>7272</AccumulatedDepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>14097</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>12922</AccumulatedDepreciationAmt>
        <BookValueAmt>1175</BookValueAmt>
        <EOYFMVAmt>1175</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>16268</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>13105</AccumulatedDepreciationAmt>
        <BookValueAmt>3163</BookValueAmt>
        <EOYFMVAmt>3163</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>3858</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>2786</AccumulatedDepreciationAmt>
        <BookValueAmt>1072</BookValueAmt>
        <EOYFMVAmt>1072</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>32859</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>5477</AccumulatedDepreciationAmt>
        <BookValueAmt>27382</BookValueAmt>
        <EOYFMVAmt>27382</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>32209</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>17894</AccumulatedDepreciationAmt>
        <BookValueAmt>14315</BookValueAmt>
        <EOYFMVAmt>14315</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1294</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>719</AccumulatedDepreciationAmt>
        <BookValueAmt>575</BookValueAmt>
        <EOYFMVAmt>575</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>650</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>361</AccumulatedDepreciationAmt>
        <BookValueAmt>289</BookValueAmt>
        <EOYFMVAmt>289</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>RUDDER</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>12866</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>1930</AccumulatedDepreciationAmt>
        <BookValueAmt>10936</BookValueAmt>
        <EOYFMVAmt>10936</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>32859</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>4655</AccumulatedDepreciationAmt>
        <BookValueAmt>28204</BookValueAmt>
        <EOYFMVAmt>28204</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>RUDDER</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>12866</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>1716</AccumulatedDepreciationAmt>
        <BookValueAmt>11150</BookValueAmt>
        <EOYFMVAmt>11150</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>32209</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>14315</AccumulatedDepreciationAmt>
        <BookValueAmt>17894</BookValueAmt>
        <EOYFMVAmt>17894</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>30173</CostOrOtherBasisAmt>
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        <BookValueAmt>27407</BookValueAmt>
        <EOYFMVAmt>27407</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>306</CostOrOtherBasisAmt>
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        <BookValueAmt>221</BookValueAmt>
        <EOYFMVAmt>221</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>439</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>37</AccumulatedDepreciationAmt>
        <BookValueAmt>402</BookValueAmt>
        <EOYFMVAmt>402</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1800</CostOrOtherBasisAmt>
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        <BookValueAmt>1665</BookValueAmt>
        <EOYFMVAmt>1665</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING SPARS AND HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>26647</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>1999</AccumulatedDepreciationAmt>
        <BookValueAmt>24648</BookValueAmt>
        <EOYFMVAmt>24648</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>863</CostOrOtherBasisAmt>
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        <BookValueAmt>813</BookValueAmt>
        <EOYFMVAmt>813</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>30173</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>2012</AccumulatedDepreciationAmt>
        <BookValueAmt>28161</BookValueAmt>
        <EOYFMVAmt>28161</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING SPARS AND HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>4205</CostOrOtherBasisAmt>
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        <BookValueAmt>3960</BookValueAmt>
        <EOYFMVAmt>3960</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
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        <BookValueAmt>18098</BookValueAmt>
        <EOYFMVAmt>18098</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING SPARS AND HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>2000</CostOrOtherBasisAmt>
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        <BookValueAmt>1867</BookValueAmt>
        <EOYFMVAmt>1867</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>23269</CostOrOtherBasisAmt>
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        <BookValueAmt>19391</BookValueAmt>
        <EOYFMVAmt>19391</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>736</CostOrOtherBasisAmt>
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        <BookValueAmt>613</BookValueAmt>
        <EOYFMVAmt>613</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>807</CostOrOtherBasisAmt>
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        <BookValueAmt>773</BookValueAmt>
        <EOYFMVAmt>773</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1213</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>40</AccumulatedDepreciationAmt>
        <BookValueAmt>1173</BookValueAmt>
        <EOYFMVAmt>1173</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>15071</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>754</AccumulatedDepreciationAmt>
        <BookValueAmt>14317</BookValueAmt>
        <EOYFMVAmt>14317</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>13562</CostOrOtherBasisAmt>
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        <BookValueAmt>13110</BookValueAmt>
        <EOYFMVAmt>13110</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>10666</CostOrOtherBasisAmt>
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        <BookValueAmt>10399</BookValueAmt>
        <EOYFMVAmt>10399</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>YACHT RIGGING</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>2757</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>92</AccumulatedDepreciationAmt>
        <BookValueAmt>2665</BookValueAmt>
        <EOYFMVAmt>2665</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>2170</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>54</AccumulatedDepreciationAmt>
        <BookValueAmt>2116</BookValueAmt>
        <EOYFMVAmt>2116</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>15900</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>398</AccumulatedDepreciationAmt>
        <BookValueAmt>15502</BookValueAmt>
        <EOYFMVAmt>15502</EOYFMVAmt>
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      <LandEtcGrp>
        <CategoryOrItemTxt>SAIL</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>3373</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>281</AccumulatedDepreciationAmt>
        <BookValueAmt>3092</BookValueAmt>
        <EOYFMVAmt>3092</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>YACHT RIGGING</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>2098</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>52</AccumulatedDepreciationAmt>
        <BookValueAmt>2046</BookValueAmt>
        <EOYFMVAmt>2046</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>17640</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>294</AccumulatedDepreciationAmt>
        <BookValueAmt>17346</BookValueAmt>
        <EOYFMVAmt>17346</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>2818</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>47</AccumulatedDepreciationAmt>
        <BookValueAmt>2771</BookValueAmt>
        <EOYFMVAmt>2771</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>SAILING HARDWARE</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>3519</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>29</AccumulatedDepreciationAmt>
        <BookValueAmt>3490</BookValueAmt>
        <EOYFMVAmt>3490</EOYFMVAmt>
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    </LandEtcSchedule2>
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        <CategoryTxt>LEGAL FEES</CategoryTxt>
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        <Desc>INSURANCE</Desc>
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        <DisbursementsCharitablePrpsAmt>53558</DisbursementsCharitablePrpsAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>CLOTHING &amp; UNIFORMS</Desc>
        <RevenueAndExpensesPerBooksAmt>12406</RevenueAndExpensesPerBooksAmt>
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        <Desc>DUES &amp; SUBSCRIPTIONS</Desc>
        <RevenueAndExpensesPerBooksAmt>17268</RevenueAndExpensesPerBooksAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>REGATTA FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>8600</RevenueAndExpensesPerBooksAmt>
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        <DisbursementsCharitablePrpsAmt>8600</DisbursementsCharitablePrpsAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>AUTO EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>916</RevenueAndExpensesPerBooksAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>MEALS &amp; ENTERTAINMENT</Desc>
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        <DisbursementsCharitablePrpsAmt>12308</DisbursementsCharitablePrpsAmt>
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        <DisbursementsCharitablePrpsAmt>43556</DisbursementsCharitablePrpsAmt>
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      <OtherExpensesScheduleGrp>
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        <RevenueAndExpensesPerBooksAmt>2265</RevenueAndExpensesPerBooksAmt>
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        <DisbursementsCharitablePrpsAmt>2265</DisbursementsCharitablePrpsAmt>
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        <RevenueAndExpensesPerBooksAmt>5764</RevenueAndExpensesPerBooksAmt>
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      <OtherExpensesScheduleGrp>
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        <DisbursementsCharitablePrpsAmt>2524</DisbursementsCharitablePrpsAmt>
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        <Desc>COACHING</Desc>
        <RevenueAndExpensesPerBooksAmt>8523</RevenueAndExpensesPerBooksAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>OTHER DEDUCTIONS</Desc>
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    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
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        <CategoryTxt>MARINE SAFETY CONSULTANT</CategoryTxt>
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        <PersonNm>ALEXANDER AUERSPERG</PersonNm>
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      <SubstantialContributorDetail>
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      <SubstantialContributorDetail>
        <PersonNm>RALPH ISHAM</PersonNm>
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        <PersonNm>STEPHEN GLASCOCK</PersonNm>
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