to facilitate the regulatory approval of the schurz acquisition , we ( i ) exchanged the assets of kake-tv ( abc ) ( and its satellite stations ) for the assets of lockwood broadcasting , inc. 's television station wbxx-tv ( cw ) and $ 11.2 million of cash , on february 1 , 2016 ; ( ii ) exchanged the assets of wsbt-tv for the assets of sinclair broadcast group , inc. 's television station wluc-tv ( nbc/fox ) on february 16 , 2016 ; and ( iii ) sold the schurz radio broadcast assets to three separate radio broadcasters on february 16 , 2016 ( collectively with the schurz acquisition , the “ schurz acquisition and related transactions ” ) . 37 on may 13 , 2016 , we announced that we agreed to acquire television stations wdtv-tv ( cbs ) and wvfx-tv ( fox , cw ) , a legal duopoly in the clarksburg-weston , west virginia television market ( the “ clarksburg acquisition ” ) from withers broadcasting company of west virginia and withers broadcasting company of clarksburg , llc ( collectively “ withers ” ) for a maximum total purchase price of $ 26.5 million in cash . on june 1 , 2016 , we made a partial payment of $ 16.5 million to withers and acquired the non-license assets of these stations . also , on that date we began to provide services to withers under a local programming and marketing agreement ( an “ lma ” ) . subject to regulatory approval , we currently expect to complete this acquisition later in the first quarter or in the second quarter of 2017. on june 27 , 2016 , we completed the acquisition of kyes-tv ( my , ant . ) , in the anchorage , alaska television market , from fireweed communications , llc ( the “ kyes-tv acquisition ” ) for a purchase price of $ 0.5 million , plus transaction related expenses . collectively , we refer to the stations acquired and retained in 2016 , as well as those which we began operating under an lma in 2016 , as the “ 2016 acquired stations . ” for a more detailed discussion of the 2016 acquired stations , including the consideration paid to complete such transactions and their impact on our operations since the respective acquisition dates , see note 2 “ acquisitions and dispositions . ” during 2015 , we completed six acquisitions which collectively added seven television stations in six markets ( four new markets ) to our operations , and we refer to those stations as the “ 2015 acquired stations . ” during 2014 , we completed seven acquisitions which collectively added 22 television stations in 12 markets ( 10 new markets ) to our operations , and we refer to those stations as the “ 2014 acquired stations . ” unless the context requires otherwise , we refer to the 2016 acquired stations , the 2015 acquired stations and the 2014 acquired stations , collectively , as the “ acquired stations . ” on january 13 , 2017 , we acquired ktvf-tv ( nbc ) , kxdf-tv ( cbs ) , and kfxf-tv ( fox ) in the fairbanks , alaska television market , from tanana valley television company and tanana valley holdings , llc for $ 8.0 million ( the “ fairbanks acquisition ” ) . we completed the fairbanks acquisition with cash on hand . on january 17 , 2017 , we acquired two television stations that were divested by nextstar broadcasting group , inc. ( “ nexstar ” ) upon its merger with media general , inc. ( “ media general ” ) : wbay-tv ( abc ) , in the green bay , wisconsin television market ( the “ green bay acquisition ” ) , and kwqc-tv ( nbc ) , in the davenport , iowa , rock island , illinois , and moline , illinois ( or “ quad cities ” ) television market ( the “ davenport acquisition ” ) , for an adjusted purchase price of $ 269.9 million . we completed these acquisitions with cash on hand . the green bay acquisition and the davenport acquisition were completed , in part , through a transaction with gray midwest eat , llc ( “ gme ” ) , pursuant to which , we loaned gme $ 106.0 million which gme in turn used to acquire the broadcast licenses of the stations . gme is a variable interest entity ( “ vie ” ) for which we are the primary beneficiary . as a result , we will include the assets , liabilities and results of operations of gme in our consolidated financial statements beginning in january 2017 and continuing for so long as we remain the primary beneficiary . on february 16 , 2017 , we announced that we had reached an agreement with diversified communications , inc. ( “ diversified ” ) to acquire two television stations : wabi-tv ( cbs/cw ) in the bangor , maine television market ( dma 156 ) and wcjb-tv ( abc/cw ) in the gainesville , florida television market ( dma 161 ) for $ 85.0 million . subject to receipt of regulatory and other approvals , we expect this transaction will close in the second quarter of 2017 , with cash on hand and , if necessary , borrowings under our senior credit facility . recent financing transactions in connection with the consummation of the schurz acquisition and related transactions , effective february 16 , 2016 , we entered into the second amendment and incremental facility agreement ( the “ second amendment ” ) to our then-existing senior credit facility ( the “ 2014 senior credit facility ” ) . story_separator_special_tag % for 2015 from 39.8 % for 2014. our effective income tax rates differed from the statutory rate due to the following items : replace_table_token_9_th 45 liquidity and capital resources general the following tables present data that we believe is helpful in evaluating our liquidity and capital resources ( dollars in thousands ) : replace_table_token_10_th replace_table_token_11_th on february 7 , 2017 , gray amended and restated the 2014 senior credit facility in the form of the 2017 senior credit facility to , among other things , reduce our interest rate under the term loan facility to libor plus 2.50 % , increase our availability under the revolving credit facility from $ 60.0 million to $ 100.0 million , and extend the maturity of the revolving credit facility and term loan facility to 2022 and 2024 , respectively . see note 11 “ subsequent events ” to our audited consolidated financial statements included elsewhere herein for more information on the 2017 senior credit facility . prior to entry into the 2017 senior credit facility , the 2014 senior credit facility consisted of a revolving loan and a term loan . excluding accrued interest , the amount outstanding under our 2014 senior credit facility as of december 31 , 2016 and 2015 consisted solely of a term loan balance of $ 556.4 million . as of december 31 , 2016 , we had $ 700.0 million of our 2026 notes outstanding and $ 525.0 million of our 2024 notes outstanding . as of december 31 , 2016 and 2015 , the interest rate on the balance outstanding under the 2014 senior credit facility was 3.9 % and 3.8 % , respectively . as of december 31 , 2016 , the interest rate and yield on the original 2026 notes were each 5.875 % ; the interest rate and yield on the additional 2026 notes were 5.875 % and 5.398 % , respectively ; and the interest rate and yield on the 2024 notes were each 5.125 % . as of december 31 , 2016 and 2015 , we had a deferred loan cost balance , net of accumulated amortization , of $ 12.2 million and $ 6.1 million , respectively , related to the senior credit facility . as of december 31 , 2016 , we had a deferred loan cost balance , net of accumulated amortization , of $ 10.6 million related to our 2026 notes and $ 7.7 million related to our 2024 notes . our obligations under the 2017 senior credit facility are secured by substantially all of the assets of gray and substantially all of our subsidiaries , excluding real estate . in addition , substantially all of our subsidiaries are joint and several guarantors of , and our ownership interests in those subsidiaries are pledged to collateralize , our obligations under the 2017 senior credit facility . 46 the 2017 senior credit facility contains affirmative and restrictive covenants that we must comply with , including ( a ) limitations on additional indebtedness , ( b ) limitations on liens , ( c ) limitations on the sale of assets , ( d ) limitations on guarantees , ( e ) limitations on investments and acquisitions , ( f ) limitations on the payment of dividends and share repurchases , ( g ) limitations on mergers , and ( h ) maintenance of a first lien leverage ratio not to exceed certain maximum limits while any amount is outstanding under the revolving credit facility as well as other customary covenants for credit facilities of this type . the 2026 notes and 2024 notes each include covenants with which we must comply and are typical for borrowing transactions of their nature . as of december 31 , 2016 and 2015 , we were in compliance with all required covenants under all our debt obligations . for further information concerning our debt obligations , see note 3 “ long-term debt ” and note 11 “ subsequent events ” to our audited consolidated financial statements included elsewhere herein . for estimates of future principal and interest payments under our debt obligations , see “ tabular disclosure of contractual obligations as of december 31 , 2016 ” included elsewhere in this management 's discussion and analysis of financial condition and results of operations . income taxes we file a consolidated federal income tax return and such state or local tax returns as are required based on our current forecasts , we expect to make minimal federal and state income tax payments in 2017 and expect to begin paying significant federal and state income taxes in 2018. liquidity giving effect to the the amendment and restatement of our credit facility , as of february 7 , 2017 , we have $ 5.6 million in debt principal repayments due during the remainder of 2017. we estimate that we will make approximately $ 122.4 million in debt interest payments , including accrued interest of $ 32.5 million as of december 31 , 2016 , and we will pay approximately $ 35.0 million for capital expenditures during the twelve months immediately following december 31 , 2016. although our cash flows from operations are subject to a number of risks and uncertainties , we anticipate that our cash on hand , future cash expected to be generated from operations , borrowings from time to time under the 2017 senior credit facility ( or any such other credit facility as may be in place at the appropriate time ) and , potentially , external equity or debt financing , will be sufficient to fund these debt service obligations and estimated capital expenditures . any potential equity or debt financing would depend upon , among other things , the costs and availability of such financing at the appropriate time . we also presently believe that our future cash expected to be generated from operations and borrowing availabity under the 2017 senior credit facility ( or any such other credit

loss from early extinguishment of debt in connection with the completion of the tender offer and the redemption , we recorded a loss from early extinguishment of debt of approximately $ 32.0 million ( $ 19.5 million net of tax ) in 2016 , consisting of tender offer premiums of $ 18.2 million , premiums related to the redemption of $ 9.1 million , the write off of unamortized deferred financing costs of $ 8.0 million and the payment of approximately $ 0.2 million in legal and other professional fees ; reduced by the recognition of un-accreted net premium of $ 3.5 million . income tax expense our effective income tax rate increased to 41.1 % for 2016 from 40.2 % for 2015. our effective income tax rates differed from the statutory rate due to the following items : replace_table_token_8_th year ended december 31 , 2015 compared to year ended december 31 , 2014 ( “ 2014 ” ) revenue total revenue increased $ 89.2 million , or 18 % , to $ 597.4 million for 2015 compared to 2014. local advertising revenue increased approximately $ 62.5 million , or 23 % , to $ 336.5 million . national advertising revenue increased approximately $ 16.2 million , or 25 % , to $ 81.1 million . the 2015 acquired stations and the 2014 acquired stations had a significant impact on our revenues . together , the stations acquired in those years accounted for approximately $ 163.4 million and $ 72.1 million of our total revenue in 2015 and 2014 , respectively . local and national advertising revenue in 2014 benefited from approximately $ 3.8


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```loss from early extinguishment of debt in connection with the completion of the tender offer and the redemption , we recorded a loss from early extinguishment of debt of approximately $ 32.0 million ( $ 19.5 million net of tax ) in 2016 , consisting of tender offer premiums of $ 18.2 million , premiums related to the redemption of $ 9.1 million , the write off of unamortized deferred financing costs of $ 8.0 million and the payment of approximately $ 0.2 million in legal and other professional fees ; reduced by the recognition of un-accreted net premium of $ 3.5 million . income tax expense our effective income tax rate increased to 41.1 % for 2016 from 40.2 % for 2015. our effective income tax rates differed from the statutory rate due to the following items : replace_table_token_8_th year ended december 31 , 2015 compared to year ended december 31 , 2014 ( “ 2014 ” ) revenue total revenue increased $ 89.2 million , or 18 % , to $ 597.4 million for 2015 compared to 2014. local advertising revenue increased approximately $ 62.5 million , or 23 % , to $ 336.5 million . national advertising revenue increased approximately $ 16.2 million , or 25 % , to $ 81.1 million . the 2015 acquired stations and the 2014 acquired stations had a significant impact on our revenues . together , the stations acquired in those years accounted for approximately $ 163.4 million and $ 72.1 million of our total revenue in 2015 and 2014 , respectively . local and national advertising revenue in 2014 benefited from approximately $ 3.8
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 Suspicious Activity Report : to facilitate the regulatory approval of the schurz acquisition , we ( i ) exchanged the assets of kake-tv ( abc ) ( and its satellite stations ) for the assets of lockwood broadcasting , inc. 's television station wbxx-tv ( cw ) and $ 11.2 million of cash , on february 1 , 2016 ; ( ii ) exchanged the assets of wsbt-tv for the assets of sinclair broadcast group , inc. 's television station wluc-tv ( nbc/fox ) on february 16 , 2016 ; and ( iii ) sold the schurz radio broadcast assets to three separate radio broadcasters on february 16 , 2016 ( collectively with the schurz acquisition , the “ schurz acquisition and related transactions ” ) . 37 on may 13 , 2016 , we announced that we agreed to acquire television stations wdtv-tv ( cbs ) and wvfx-tv ( fox , cw ) , a legal duopoly in the clarksburg-weston , west virginia television market ( the “ clarksburg acquisition ” ) from withers broadcasting company of west virginia and withers broadcasting company of clarksburg , llc ( collectively “ withers ” ) for a maximum total purchase price of $ 26.5 million in cash . on june 1 , 2016 , we made a partial payment of $ 16.5 million to withers and acquired the non-license assets of these stations . also , on that date we began to provide services to withers under a local programming and marketing agreement ( an “ lma ” ) . subject to regulatory approval , we currently expect to complete this acquisition later in the first quarter or in the second quarter of 2017. on june 27 , 2016 , we completed the acquisition of kyes-tv ( my , ant . ) , in the anchorage , alaska television market , from fireweed communications , llc ( the “ kyes-tv acquisition ” ) for a purchase price of $ 0.5 million , plus transaction related expenses . collectively , we refer to the stations acquired and retained in 2016 , as well as those which we began operating under an lma in 2016 , as the “ 2016 acquired stations . ” for a more detailed discussion of the 2016 acquired stations , including the consideration paid to complete such transactions and their impact on our operations since the respective acquisition dates , see note 2 “ acquisitions and dispositions . ” during 2015 , we completed six acquisitions which collectively added seven television stations in six markets ( four new markets ) to our operations , and we refer to those stations as the “ 2015 acquired stations . ” during 2014 , we completed seven acquisitions which collectively added 22 television stations in 12 markets ( 10 new markets ) to our operations , and we refer to those stations as the “ 2014 acquired stations . ” unless the context requires otherwise , we refer to the 2016 acquired stations , the 2015 acquired stations and the 2014 acquired stations , collectively , as the “ acquired stations . ” on january 13 , 2017 , we acquired ktvf-tv ( nbc ) , kxdf-tv ( cbs ) , and kfxf-tv ( fox ) in the fairbanks , alaska television market , from tanana valley television company and tanana valley holdings , llc for $ 8.0 million ( the “ fairbanks acquisition ” ) . we completed the fairbanks acquisition with cash on hand . on january 17 , 2017 , we acquired two television stations that were divested by nextstar broadcasting group , inc. ( “ nexstar ” ) upon its merger with media general , inc. ( “ media general ” ) : wbay-tv ( abc ) , in the green bay , wisconsin television market ( the “ green bay acquisition ” ) , and kwqc-tv ( nbc ) , in the davenport , iowa , rock island , illinois , and moline , illinois ( or “ quad cities ” ) television market ( the “ davenport acquisition ” ) , for an adjusted purchase price of $ 269.9 million . we completed these acquisitions with cash on hand . the green bay acquisition and the davenport acquisition were completed , in part , through a transaction with gray midwest eat , llc ( “ gme ” ) , pursuant to which , we loaned gme $ 106.0 million which gme in turn used to acquire the broadcast licenses of the stations . gme is a variable interest entity ( “ vie ” ) for which we are the primary beneficiary . as a result , we will include the assets , liabilities and results of operations of gme in our consolidated financial statements beginning in january 2017 and continuing for so long as we remain the primary beneficiary . on february 16 , 2017 , we announced that we had reached an agreement with diversified communications , inc. ( “ diversified ” ) to acquire two television stations : wabi-tv ( cbs/cw ) in the bangor , maine television market ( dma 156 ) and wcjb-tv ( abc/cw ) in the gainesville , florida television market ( dma 161 ) for $ 85.0 million . subject to receipt of regulatory and other approvals , we expect this transaction will close in the second quarter of 2017 , with cash on hand and , if necessary , borrowings under our senior credit facility . recent financing transactions in connection with the consummation of the schurz acquisition and related transactions , effective february 16 , 2016 , we entered into the second amendment and incremental facility agreement ( the “ second amendment ” ) to our then-existing senior credit facility ( the “ 2014 senior credit facility ” ) . story_separator_special_tag % for 2015 from 39.8 % for 2014. our effective income tax rates differed from the statutory rate due to the following items : replace_table_token_9_th 45 liquidity and capital resources general the following tables present data that we believe is helpful in evaluating our liquidity and capital resources ( dollars in thousands ) : replace_table_token_10_th replace_table_token_11_th on february 7 , 2017 , gray amended and restated the 2014 senior credit facility in the form of the 2017 senior credit facility to , among other things , reduce our interest rate under the term loan facility to libor plus 2.50 % , increase our availability under the revolving credit facility from $ 60.0 million to $ 100.0 million , and extend the maturity of the revolving credit facility and term loan facility to 2022 and 2024 , respectively . see note 11 “ subsequent events ” to our audited consolidated financial statements included elsewhere herein for more information on the 2017 senior credit facility . prior to entry into the 2017 senior credit facility , the 2014 senior credit facility consisted of a revolving loan and a term loan . excluding accrued interest , the amount outstanding under our 2014 senior credit facility as of december 31 , 2016 and 2015 consisted solely of a term loan balance of $ 556.4 million . as of december 31 , 2016 , we had $ 700.0 million of our 2026 notes outstanding and $ 525.0 million of our 2024 notes outstanding . as of december 31 , 2016 and 2015 , the interest rate on the balance outstanding under the 2014 senior credit facility was 3.9 % and 3.8 % , respectively . as of december 31 , 2016 , the interest rate and yield on the original 2026 notes were each 5.875 % ; the interest rate and yield on the additional 2026 notes were 5.875 % and 5.398 % , respectively ; and the interest rate and yield on the 2024 notes were each 5.125 % . as of december 31 , 2016 and 2015 , we had a deferred loan cost balance , net of accumulated amortization , of $ 12.2 million and $ 6.1 million , respectively , related to the senior credit facility . as of december 31 , 2016 , we had a deferred loan cost balance , net of accumulated amortization , of $ 10.6 million related to our 2026 notes and $ 7.7 million related to our 2024 notes . our obligations under the 2017 senior credit facility are secured by substantially all of the assets of gray and substantially all of our subsidiaries , excluding real estate . in addition , substantially all of our subsidiaries are joint and several guarantors of , and our ownership interests in those subsidiaries are pledged to collateralize , our obligations under the 2017 senior credit facility . 46 the 2017 senior credit facility contains affirmative and restrictive covenants that we must comply with , including ( a ) limitations on additional indebtedness , ( b ) limitations on liens , ( c ) limitations on the sale of assets , ( d ) limitations on guarantees , ( e ) limitations on investments and acquisitions , ( f ) limitations on the payment of dividends and share repurchases , ( g ) limitations on mergers , and ( h ) maintenance of a first lien leverage ratio not to exceed certain maximum limits while any amount is outstanding under the revolving credit facility as well as other customary covenants for credit facilities of this type . the 2026 notes and 2024 notes each include covenants with which we must comply and are typical for borrowing transactions of their nature . as of december 31 , 2016 and 2015 , we were in compliance with all required covenants under all our debt obligations . for further information concerning our debt obligations , see note 3 “ long-term debt ” and note 11 “ subsequent events ” to our audited consolidated financial statements included elsewhere herein . for estimates of future principal and interest payments under our debt obligations , see “ tabular disclosure of contractual obligations as of december 31 , 2016 ” included elsewhere in this management 's discussion and analysis of financial condition and results of operations . income taxes we file a consolidated federal income tax return and such state or local tax returns as are required based on our current forecasts , we expect to make minimal federal and state income tax payments in 2017 and expect to begin paying significant federal and state income taxes in 2018. liquidity giving effect to the the amendment and restatement of our credit facility , as of february 7 , 2017 , we have $ 5.6 million in debt principal repayments due during the remainder of 2017. we estimate that we will make approximately $ 122.4 million in debt interest payments , including accrued interest of $ 32.5 million as of december 31 , 2016 , and we will pay approximately $ 35.0 million for capital expenditures during the twelve months immediately following december 31 , 2016. although our cash flows from operations are subject to a number of risks and uncertainties , we anticipate that our cash on hand , future cash expected to be generated from operations , borrowings from time to time under the 2017 senior credit facility ( or any such other credit facility as may be in place at the appropriate time ) and , potentially , external equity or debt financing , will be sufficient to fund these debt service obligations and estimated capital expenditures . any potential equity or debt financing would depend upon , among other things , the costs and availability of such financing at the appropriate time . we also presently believe that our future cash expected to be generated from operations and borrowing availabity under the 2017 senior credit facility ( or any such other credit

