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16. A property is sold for $5,100,000. The mortgage balance at the time of the sale is $3,600,000. The property was purchased 5 years ago


16. A property is sold for $5,100,000. The mortgage balance at the time of the sale is $3,600,000. The property was purchased 5 years ago for S4, 820,000 and annual depreciation has been S IS 3,0 I 6 Assume tax rates of20%?, capital gains and 25% on depreciation recapture, what is the after-tax cash flow from the sale of the property?

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