A property generates $76,000 in annual unlevered cash flows. The property owner purchased the property with a loan that has a $50,033 annual debt service. The improved value (building only) of the property is $855,000 which can be depreciated over 30 years. If the owner paid $10,196 against the loan principal in Year 1 and his marginal tax rate is 37%, what is his Year 1 tax liability from the property?