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A property is sold for $4,915,000 with selling costs of 3% of the sales price. The mortgage balance at the time of sale is $3,600,000.

A property is sold for $4,915,000 with selling costs of 3% of the sales price. The mortgage balance at the time of sale is $3,600,000. The property was purchased 5 years ago for $4,820,000? Annual depreciation allowances of $153,016 have been taken? If the tax rate is 28%, what is the after-tax cash flow from sale of the property?

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