6. Given the following information calculate the propertys net operating income [7 points] and before- tax cash flows [7 points].

SHOW WORK PLEASE

Number of units = 30

Monthly rent per unit = $1,300

Vacancy rate = 10 percent

Depreciation = $60,000 per year

Annual operating expenses = $198,500

Annual Miscellaneous Income = $30,000

Annual Capital Expenditures = $40,000

Loan Amount = $3,000,000

Loan Terms = 30-year fully amortizing with monthly payments

Loan Interest Rate = 6.0%

Taxes Paid = $100,000