nger Towers, inc is considering an expansion of their existing business, student apartments. The new project will be built on of a 20-unitofice pulding wit cost $3 milion; this expense wil be depreciated straight-line over 30 years to zero salvage value: the pretax value of the land and bulding in year 30 will be $18,000,000. The $3,000,000 construction cost is to be paid today The project will not change the nisk level of the firm. The firm will lease 20 oftice suites at $20,000 per sulte per year. payment is depreclation, are $75,000 per year. The project will require a $10,000 investment in net working capital. rdebt=10.0%rWACC=11.20%ED=3rasset=15.estaxrate=34%requity=24.9%rfree=2% Astume that the firm witt partatly finance the project with a $3,000,000 interest-only 30 -year loan at 10.0 percent APR with annut payments What is the levered after-tax incrementai cash flow for year 1