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The before-tax cash flow (BTCF) of a commercial investment property must be sufficient to: 1. Service the mortgage debt II. Pay (or account for) any

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The before-tax cash flow (BTCF) of a commercial investment property must be sufficient to: 1. Service the mortgage debt II. Pay (or account for) any income taxes III. Provide equity investors with acceptable returns II and III I and II Il only I only

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