An effective tax rate: Takes into account the effects of depreciation Measures the actual difference between the Before Tax IRR and After Tax IRR Can be less than the actual marginal tax rate All of the above A restaurant is for sale for $200,000. It is estimated that the restaurant will earn $20,000 a year for the next 15 years. At the end of 15 years, it is estimated that the restaurant will sell for $350,000. Which of the following would be MOST LIKELY to occur if the investor's required rate of return is 15 percent? Investor would pursue the project Investor would not pursue the project Investor would pursue the project if the holding period were longer than 15 years Not enough information provided Net sale proceeds less adjusted basis of the property determines which of the following? After-tax net present value of the property Depreciation allowance for the property Before-tax net present value of the property Capital gains or losses A property produces an 8.92% ATIRR on the total investment considering a tax rate of 28%. What is the maximum interest rate that could be paid on debt without causing the leverage to be negative? 12.39% 11.42% 6.42% 9.37%