Homework: Chapter W18 Homework Save Score: 0.3 of 1 pt 2 of 7 (6 complete) HW Score: 68.57%, 4.8 of 7 x P18.2 (similar to) Question Help (Round to the nearest a. The NOI for year 1 is $ cent.) In the coming year, the McCormicks expect a potential rental property investment costing $180,000 to have gross potential rental income of $30,503, vacancy and collection losses equaling 4% of gross income, and operating expenses of $14,899. The mortgage on the property is expected to require annual payments of $8,314. The interest portion of the mortgage payments and the depreciation are given below for each of the next three years. The McCormicks are in the 24% marginal tax bracket. (Click on the icon here in order to copy the contents of the data table belowinto a spreadsheet.) Year 1 Interest $8,114 8,014 7,914 Depreciation $6,818 6,818 6,818 2 3 The net operating income is expected to increase by 6% each year beyond the first year. a. Calculate the net operating income (NOI) for each of the next three years. b. Calculate the after-tax cash flow (ATCF) for each of the next three years