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Assume a REIT has revenues of $300M and operating expenses of $150M. The depreciation charge for the current year will be $50M leaving $100M in

Assume a REIT has revenues of $300M and operating expenses of $150M. The depreciation charge for the current year will be $50M leaving $100M in taxable income. Assume the REIT has a 40% tax rate. REITs are required to distribute 90% of their taxable income. What is the estimated distribution amount?

$90M

$40M

$60M

$54M

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