$1)$ An individual investor is evaluating the profitabilty of an anticipated land investment that has an asking price of $$2,000$ per acre and current net cash flow of $$120$ per acre. The investor will pay cash, plasn on holding the investment for $10$ years, and has a $5\%$ cost of capital. No inflation or tax obligation are involved. Evaluate the profitability of the investment.

$2)$ Based on the prior answer, what if the anticpated inflation rate is $4\%,$ which equally affects net cash flows, land values and the cost of capital.

$3)$ What happens to the value if land values are expected to grow by $5\%?$

$4)$ What happens if the investor's tax rate on ordinary income is $20\%?$

$5)$ How does the investment change if debt financing is used, assuming a $20\%$ down payment and a loan rate of $7\%$ interest with equal payments of principal and interest over $30$ years. Discuss the possible risks associated with this investment.