In the coming year, the Sandbergs expect a potential rental property investment costing $$120000$ to have gross potential rental income of $$20000,$ vacancy and collection losses equalling $5\%$ of gross income, and operating expenses of $$10000.$ The mortgage on the property is expected to require annual payments of $$8500.$ The interest portion of the mortgage payments and the depreciation are given below for each of the next three years. The Sandbergs are in the $25\%$ marginal tax bracket.

Year Interest Depreciation

$1$ $$8300$ $$4500$

$282004500$

$381004500$

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.