Compute the cash flow, tax flow, and after tax flow for the following real estate investment property:

-Gross rents are expected to be $36,000 per year

-Expected vacancy allowance is 5% of gross rents

-Property management fees are 8% of rents collected

-Total estimated operating expenses per year $7,200

-Payment of mortgage per year:

Interest 12,000

Principal 3,000

Total 15,000

-Depreciation allowance for the year is $14,350

-The owner's earned income is $100,000 and his marginal tax bracket is 30%

Compute the following:

A) Before tax cash flow

B) Tax flow (taxable income or loss from property annual operation)

C) Income taxes due or tax savings from annual operation of this investment property

D) Annual after tax cash flow from the property