P18.2 (similar to) Quest a. The NOI for year 1 is $. (Round to the nearest cent.) In the coming year, the McCormicks expect a potential rental property investment costing $180,000 to have gross potential rental income of $30,585, vacancy and collection losses equaling 4% of gross income, and operating expenses of $14,545. The mortgage on the property is expected to require annual payments of $8,698. 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 Interest Depreciation 1 $8,498 $6,716 8,398 6,716 3 8,298 6,716 2 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. P18.2 (similar to) Quest a. The NOI for year 1 is $. (Round to the nearest cent.) In the coming year, the McCormicks expect a potential rental property investment costing $180,000 to have gross potential rental income of $30,585, vacancy and collection losses equaling 4% of gross income, and operating expenses of $14,545. The mortgage on the property is expected to require annual payments of $8,698. 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 Interest Depreciation 1 $8,498 $6,716 8,398 6,716 3 8,298 6,716 2 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