Calculate the tax liability of the office property in Year 5, assuming that:

Property Acquisition price = $1,000,000

Holding Period = 5 Years

LTV = 80%

Loan Amortization Period = 25 years

Loan Interest from Y1 to Y5 = $10,000

Upfront financing cost = 5% of loan amount

NOI from Y1 to Y5 = $100,000

CAPEX from Y1 to Y5 = $0

Depreciable basis = 80% of acquisition price

Ordinary tax rate = 30%