A- After-tax cash flow < before tax cash flow < levered cash flow.

B- If operating expense per sq.ft. is $5, and the expense stop is $4, then the building owner pays $4.

C- Investor's cash flow in the final year is lower in the presence of a loan, and is even lower in the presence of taxes.

D - An investment strategy when an investor buys just buildings with more than one tenants is known as "strategy as to size of property".

Select all that are TRUE.