ou bought a multi-family property for $2.5 million, 10% of the purchase price was attributable to the land with the rest being for the property itself. You financed this with a LTV of 70%, with a fully amortizing loan for 30 years with an interest rate of 4.75%. Multi-family properties have a depreciable life of 27.5 years for tax purposes, and your tax rate for this investment is 20%. The property s Year 1 NOI was $195,000. What was the amount of depreciation taken in Year 1?"

		"a. $82,542"
		"b. $81,818"
		"c. $90,909"
		"d. $83,333"

From question above, what was the property s taxable income and how much tax would be payable on that income?"

		"a. $195,000, $39,000"
		"b. $113,182, $22,636"
		"c. $24,512, $4,902"
		"d. $30,640, $6,128"