Hitchcock purchased a single family rental property in 1997 for $750,000. She believes she could sell the property today for $1,500,000. She has no loan on the property. Factors to consider: Sales price $1,500,000 Original Purchase Price $750,000 Depreciation Taken $50,000 Improvements made to the property since purchased $75,000 Current NOI is $42,000 annually Anticipated annual appreciation on Single Family home 4% Sales commission 5% of sales price Capital Gains tax rate 20%. What is the current estimated pretax return on the investment What is the tax basis for the property? What would be the capital gains tax on the sale? What would Hitchcock need to earn on an alternative investment to justify selling the single family home?