The NOI is $40,000; there are $5,000 in tenant improvement expenditures paid for by the landlord; there is a $200,000 interest-only loan at 8 percent annual interest; the depreciable cost basis of this residential property is $300,000; the owner's tax bracket is 35 percent. What is the Equity After-Tax Cash Flow (EATCF)? Excel Link: Excel Sheet.xlsx $14,680 $27,800 $14,418 $35,000