Given the following information regarding an income producing property, determine the after tax net present value (NPV). Expected Holding Period: 5 years; 1st year Expected BTCF: $30,656; 2nd year Expected BTCF: $33,329;3rdyearExpectedBTCF:$36,082;4thyearExpectedBTCF:$38,918;5thyearExpectedBTCF:$41,839; 1st year Expected Tax Liability: $7,645;2nd year Expected Tax Liability: $8,658;3rd year Expected Tax Liability: $9,708; 4th year Expected Tax Liability: $10,798; 5th year Expected Tax Liability: $6,951; Estimated Before Tax Equity Reversion at end of year 5: $343,674; Expected Taxes Due on Sale at end of year 5: $32,032; Required equityinvestment:$241,163;AfterTaxOpportunityCost:11.2%.

CHOOSE ONE ANSWER

A. $40,858

B. ($91,785)

C. ($40,858)

D. $91,785