3. NET INVESTMENT IN SALES-TYPE LEASES

Under sales-type leases, Shanghai TCH leased TRT systems to Xingtai and Zhangzhi with terms of 5 and 13 years, respectively and leased CHPG systems to Tong Chuan Shengwei and Jin Yang Shengwei respectively for 5 years, BMPG systems to Pucheng for 15 years, BMPG systems to Shenqiu for 11 years, and a power and steam generating system from waste heat from metal refining to Erdos for 20 years. The components of the net investment in sales-type leases as of March 31, 2012 and December 31, 2011 are as follows:

	2012			2011
Total future minimum lease payments receivable	$	405,874,585		$	415,796,738
Less: executory cost		(119,470,440	)		(121,384,498	)
Less: unearned interest income		(152,260,178	)		(158,110,200	)
Net investment in sales - type leases		134,143,967			136,302,040
Current portion		8,698,366			8,725,345
Noncurrent portion	$	125,445,601		$	127,576,695

As of March 31, 2012, the future minimum rentals to be received on non-cancelable sales-type leases by years are as follows:

2013	$	36,300,084
2014		33,893,748
2015		27,476,782
2016		26,348,448
2017		26,348,448
Thereafter		255,507,075
Total	$	405,874,585