QUESTION 9 Consider an industrial property that is purchased at the end of 2019 for $5 million. The purchase is financed with a 54 million constant payment mortgage with ANNUAL payments, amortized over 30 years, and has an interest rate of 7%. The land value is assessed to be $1 million. In 2020, net operating income (NOI) is $500,000. Ordinary income tax rate is %30, and property is depreciated over 40 years. What is the equity after-tax cash flow (EATCF) in 2020? OA. $ 161,404 OB. $ 179,794 OC. $ 196,680 o D. $ 141,654 OE. $ 120,690