Question 19 3.5 pts An investor expects zero cash flows but $77,646 in before tax sale proceeds from an investment 10 years from now. How much can the investor pay for this investment if the investor requires a 15-percent, before-tax return? $98,200 $88,400 $23,199 $90,500 O $19,193 Question 20 3.5 pts What annual before-tax rate of return would an investor receive if she purchased a mortgage with a remaining term of 10 years for $545,000 that produces a monthly cash flow of $7,312 received at the end of each month? 10.36 percent 10.57 percent O 9.75 percent .86 percent 0.88 percent Question 21 3.5 pts Mr. and Mrs. Cox buy an apartment building that is estimated to produce a net operating income of $10,000. The property is purchased subject to a loan of $60,000; payment on the loan is $386.58 per month, including 6 percent interest. The available cost recovery for the first year is $2,900. The taxable income for the first year is estimated to be: O $7,539 O $2,461 O $6,032 O $7,500 O $3,529