Problems 21-23 are correlated.

21. a property is sold for $5,100,000. the mortgage balance at the time of sale is $3,600,000. the property purchased 5 years ago for $4,820,000 Annual depreciation allowances of $122,015 have been claimed on the last five years of federal tax returns. the portion of gain due to the price appreciation is taxed at 15%, while the portion of the gain due to the depreciation taken over the holding period is taxed at 25%. what is the capital gain?

A)$715,035 B) $877,900 C) $880,900 D)$890,075 E)$910,378

22. THIS IS AN EXTENSION OF PROBLEM 21.a property is sold for $5,100,000. the mortgage balance at the time of sale is $3,600,000. the property purchased 5 years ago for $4,820,000 Annual depreciation allowances of $122,015 have been claimed on the last five years of federal tax returns. the portion of gain due to the price appreciation is taxed at 15%, while the portion of the gain due to the depreciation taken over the holding period is taxed at 25%. What is the BEFORE tax cash flow from the sale?

A)$890,075 B)$910,378 C)$1,050,000 D)$1,350,525 E)$1,500,000

23. THIS IS AN EXTENSION OF PROBLEM 21. a property is sold for $5,100,000. the mortgage balance at the time of sale is $3,600,000. the property purchased 5 years ago for $4,820, Annual depreciation allowances of $122,015 have been claimed on the last five years of federal tax returns. the portion of gain due to the price appreciation is taxed at 15%, while the portion of the gain due to the depreciation taken over the holding period is taxed at 25%. What is the AFTER tax cash flow from the sale?

A)$890,075 B)$930,378 C)$1,050,000 D)$1,305,481 E)$1,500,000