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33 Assume the following about Year 1 operations of Apartments: Before-Tax Levered Cash Flow: $345,023 Depreciation of TIs: $6,000 Deprecation of Cap Ex: $12,000 Leasing
33 Assume the following about Year 1 operations of Apartments:
- Before-Tax Levered Cash Flow: $345,023
- Depreciation of TIs: $6,000
- Deprecation of Cap Ex: $12,000
- Leasing Commission Cost and Amortization: $27,000
- Loan Points Amortization: $8,112
- Cash Transfer to Replacement Reserves: $54,809
- TIs: $42,000
- Principal Amortization: $53,330
- Application of Suspended Losses: $0
If the purchase price was $7,000,000 and the implied land value at purchase was $1,250,000, what is the Year 1 After-Tax Cash Flow given a 21.00% tax rate and a 39.00 year depreciation schedule?
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