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Hello, how can I answer these in steps , can i do it on a financial calculator? Consider the following information for the first year

Hello, how can I answer these in steps , can i do it on a financial calculator?

Consider the following information for the first year of a proposed property acquisition: effective gross income is estimated to be $1.5million; outgoings are $450,000; the investor has a 35% marginal tax rate. The asking price is $12.5million. The property is going to be acquired with a 65% loan to value ratio mortgage, interest-only with a 10-year term and 6% interest rate. Depreciation is straight-line over 39 years. It is estimated that the depreciation expense is $240,385 in year 1.

i) What is the net income of the property?

ii) Calculate the total income tax in Year 1

iii) Estimate the first-year equity after-tax cash flow if there are no capital improvement expenditures or reversion items this period

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