Investor B has $150,000 in an investment paying 5 percent taxable interest per annum. Each year B incurs $950 of expenses relating to this investment. Compute Bs annual net cash flow assuming the following:

Required:

1. Bs marginal tax rate is 10 percent, and the annual expense is not deductible.
2. Bs marginal tax rate is 35 percent, and the annual expense is deductible.
3. Bs marginal tax rate is 25 percent, and the annual expense is not deductible.
4. Bs marginal tax rate is 40 percent, and only $570 of the annual expense is deductible.