Public Accounts Committee — Department of Finance or to anybody to look at a lower interest rate for this type of loan? Given our new fiscal position in the Province, bond ratings and things like that, we should be at the absolute lowest possible rate for almost $2 million in debt you are carrying. MR. PIKE: While I cannot quote you the interest rate, I do know that it is low, because I remember when I did see it a year or so ago I would have liked to have had it for myself. MR. MITCHELMORE: Has a request been made to government for any type of debt relief, or are you looking at you get a $400,000 subsidy. Are you looking at seeing if that can go away anytime soon or are you going to be continuously reliant on the $400,000 of subsidy from the government, and are you looking for an increase? MR. PIKE: Just to answer your first question earlier. The debt at the end of 2011 was $1,889,000. At the end of the last fiscal year it was $1,884,000. It had gone down by $5,000. I think the positive thing there is that we have committed to ourselves to hold the line on that debt and we are successful in doing that. As for any formal requests, no; my understanding is that interest rate is extremely low and I do not know that there is much room for improvement on it. WITNESS: If I can add; yes, we have looked through what we have here and we believe it is around prime, the interest rate. MR. MITCHELMORE: Okay. I have some concerns then about the two snowmobiles that were purchased costing $22,469, financed over a three-year period at a rate 6.59 per cent interest, costing your corporation over $10,000 in interest. Wouldn't it have made sense to just carry the additional debt load? Would it have been cheaper to look at other financing means, because that is a higher interest rate? MR. PIKE: I think the snowmobiles in question were not purchased, I believe they were leased. Leasing equipment for an operation like Marble, for some things, still makes sense when you look at it, espec