Please answer all 3 thank you will upvote!

1- A property that produces an annual NOI of $222,000 was purchased for $3,400,000. Debt service for the year was $170,769 (interest $141,621 & principal $29,148). Annual depreciation is $69,744. Assuming no capital improvements (capex), what is the taxable income? Ch11

	a.	$80,379
	b.	$51,231
	c.	$152,256
	d.	$10,635

2-

Which of the following loan types is likely to have the highest interest rate? Ch12

	a.	Interest only adjustable rate senior loan
	b.	Mezzanine loan
	c.	Conventional loan - 20 year amortization
	d.	Conventional loan - 30 year amortization

3-

In doing a real estate proforma/projection, you often have to determine a "terminal" or "going-out" cap rate. Which of the following best describes what this is? Ch11

	a.	An internal rate of return over the expected ownership period
	b.	An after tax "final" return calculated at the end of your proforma.
	c.	A rate used in conjunction with expected future cash flow to derive a sales price