Question 8 2.5 pts A small strip shopping center was purchased for $3,000,000 using a mortgage of 70 percent of the purchase price. The loan terms were: 7 percent interest rate, 25-year amortization period, 10-year term, 12 payments per year, and loan costs of 2 percent of loan amount. The buyer incurred acquisition costs of $40,000. At the time of purchase the original basis was allocated 75 percent for improvements and 25 percent for land. The projected NOI for year 1 is $255,000. For an investor whose marginal tax rate is 37 percent, what is the cash flow after tax for year one of the projection? $60,666 $58,870 $255,000 $76,892 Question 8 2.5 pts A small strip shopping center was purchased for $3,000,000 using a mortgage of 70 percent of the purchase price. The loan terms were: 7 percent interest rate, 25-year amortization period, 10-year term, 12 payments per year, and loan costs of 2 percent of loan amount. The buyer incurred acquisition costs of $40,000. At the time of purchase the original basis was allocated 75 percent for improvements and 25 percent for land. The projected NOI for year 1 is $255,000. For an investor whose marginal tax rate is 37 percent, what is the cash flow after tax for year one of the projection? $60,666 $58,870 $255,000 $76,892