For questions $3-9,$ assume a $30-$year, $8\%,$ monthly amortizing, $$4,000,000$ mortgage on an office building that was purchased for $$5,000,000.$ Net operating income for Year $1$ is $$500,000.$ These questions are covered in the $4/11,18/24$ in$-$class problem set.

You can easily do these problems in Excel, and some with an online mortgage calculator, but you'll need to be able to do them using your calculator for Exam $4,$ so you might want to practice. For all answers, round to the nearest dollar $($e$.$g$.,423,444).$

What is the total mortgage payment in Year $1($not the monthly amount$)?$What is the total amount paid in interest in Year $1?$What is the mortgage balance at the end of Year $1?$What is the annual depreciation amount?What would be the Year $1$ taxable income, taking the answers above into account?Assuming a $20\%$ tax rate, what would be the taxes paid for Year $1?$Assuming the foregoing information, what would be the after$-$tax cash flow for Year $1?$