Below is the summary of the information about the property, and his estimation if he does the renovation. Purchase Price Building Value Land Value Loan-to-value Ratio Interest Term CURRENT Payments per Year Years Since Purchased Current NOI (Year 3) Projected Increase in NOI Resale Value Today Appreciation Rate Depreciable Life Ordinary Income Tax Rate Price Appreciation Tax Rate Depreciation Recapture Tax Rate $1,000,000 $800,000 $200,000 75% 10% 20 years 12 2 $100,000 2% per year $1,050,000 2% 39 28% 28% 28% per year years IF RENOVATED Renovation Cost Initial Increase in NOI (Year 3) your mommy payunary Annual Increase in NOI Terminal Cap Rate Selling Expenses New Loan Information: Interest Rate Term Payments per Year $200,000 20% 3% 10% of sale 4% price 11% 20 years 12 Below is what the cash flows from the base case scenario, which is without renovation looks like. Some cells have been intentionally left empty. Please compute them. What is the ATCF from reversion for the base case scenario? (round your final answer to whole numbers)