1. Calculate the UNLEVERED BTCF to equity in year 2.

2. Calculate the UNLEVERED BTCF to equity in year 4

3. Calculate the TOTAL UNLEVERED CF in Year 5.

Use the following property data: Purchase price $1,850,000 Cash flow from operations: Year NOI 1 2 3 4. 5 $175,000 $200,000 $225,000 $250,000 $275,000 $140,000 $140,000 $140,000 $140,000 $140,000 Debt Service Cash Flow at sale: Sale Price: $2,137,500 $64,125 Cost of sale: Mortgage balance: : $1,603,125 8% 10% Going in Cap Rate Required return, UNLEVERED CF's (APR) Required return, LEVERED CE's (APR) 15% Use the following property data: Purchase price $1,850,000 Cash flow from operations: Year NOI 1 2 3 4. 5 $175,000 $200,000 $225,000 $250,000 $275,000 $140,000 $140,000 $140,000 $140,000 $140,000 Debt Service Cash Flow at sale: Sale Price: $2,137,500 $64,125 Cost of sale: Mortgage balance: : $1,603,125 8% 10% Going in Cap Rate Required return, UNLEVERED CF's (APR) Required return, LEVERED CE's (APR) 15%