19. You are an employee of a consultant company and have been given the following information to do an investment analysis of a new small income-producing property for sale to a potential investor. What is the effective tax rate? (round your final answer to 2 decimals) The above information results in the following investment analysis. \begin{tabular}{|c|c|c|c|} \hline Less: Interest & $55,551 & $54,547 & $53,501 \\ \hline Less Depreciation & $44,231 & $46,154 & $46,154 \\ \hline Taxable Income & $89,218 & $93,969 & $100,855 \\ \hline Tax(Savings) & $31,226 & $32,889 & $35,299 \\ \hline ATCF & ? & ? & ? \\ \hline Cash Flow from Sale in Year & & 3 & \\ \hline Sale Price & & $2,185,454 & \\ \hline Sales Costs & & \$o & \\ \hline Mortgage Balance & & $1,322,982 & \\ \hline BTCF & & ? & \\ \hline Original Cost Basis & $2,000,000 & & \\ \hline Accumulated Depreciation & $136,538 & & \\ \hline Adjusted Basis & $1,863,462 & & \\ \hline Capital Gain & $321,992 & & \\ \hline Depreciation Recapture & $136,538 & & \\ \hline Price Appreciation & $185,454 & & \\ \hline Tax on Price Appreciation & $37,091 & & \\ \hline Tax on Depreciation Recapture & $34,135 & & \\ \hline Total Capital Gain Tax & & $71,225 & \\ \hline After Tax Cash Flow from Sale & & ? & \\ \hline \end{tabular} What is the effective tax rate? (round your final answer to 2 decimals) \begin{tabular}{|c|c|c|c|} \hline Equity & $600,000 & & \\ \hline Loan & $1,400,000 & & \\ \hline Annual Loan Payment & $80,206 & & \\ \hline Mortgage Balance & $1,322,982 & year & 3 \\ \hline \multicolumn{4}{|c|}{ Summary Loan Information } \\ \hline End of Year & 1 & 2 & 3 \\ \hline Payment & $80,206 & $80,206 & $80,206 \\ \hline Mortgage Balance & $1,375,345 & $1,349,687 & $1,322,982 \\ \hline Interest & $55,551 & $54,547 & $53,501 \\ \hline Principal & $24,655 & $25,659 & $26,704 \\ \hline Year & 1 & 2 & 3 \\ \hline PGI & $300,000 & $309,000 & $318,270 \\ \hline VCL & $30,000 & $30,900 & $31,827 \\ \hline EGI & ? & ? & ? \\ \hline Expenses & $81,000 & $83,430 & $85,933 \\ \hline NOI & $189,000 & $194,670 & $200,510 \\ \hline Debt Service & $80,206 & $80,206 & $80,206 \\ \hline BTCF & ? & ? & ? \\ \hline NOI & $189,000 & $194,670 & $200,510 \\ \hline \end{tabular}