Determine the before tax cash flow. A lender is willing to provide a loan equal to 80% of a property whose value is $4 million. The loan carries an interest rate of 7% for a term of 25 years and the annual loan payment factor is .08581. The NOI is $370,000 per year. Hint: figure out the loan value or OLB first. Then multiply the OLB by the loan payment factor. Solve for BTCF.

$370,000

$343,240

$95,408

$26,760