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The following are the details of a real estate investment project and its associated mortgage loan: The developer purchased the property for $ 1 ,

The following are the details of a real estate investment project and its associated mortgage loan:
The developer purchased the property for $1,000,000 at year 0.
The developer starts to earn annual income from this property at year 1, and the initial net
operating income (NOI) is $90,000.
Both the property value and NOI are projected to increase annually by 2 percent.
The property depreciates at a constant annual rate of 2.5 percent, which is based on only
80 percent of the original property value.
The developer purchased this property with a 70 percent loan at 5 percent interest, which has an
annual payment schedule and amortizes in 20 years.
The developer sells the property at year 5, which incurs a 4 percent selling expense.
The income tax rate is 40 percent.
Using the information above, fill in all the cells in the table in Excel, and type in the numerical values
of the corresponding letters in questions 5 to 9. Do not include dollar signs.
(In questions 7 to 9, the altered conditions are not accumulated over to the next question.)
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