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A property that produces an annual NOI of $225,000 was purchased for $3,100,000. Debt service for the year was $173,077 (interest $143,535 & principal $29,542).
A property that produces an annual NOI of $225,000 was purchased for $3,100,000. Debt service for the year was $173,077 (interest $143,535 & principal $29,542). Annual depreciation is $63,590. Assuming no capital improvements (capex), what is the taxable income? Ch11 a. $51,923 b. $81,465 c. $ 17,875 d. $161,410
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