What follows is a series of questions related to the discussion we had in class concerning a REITs financial statements. For reference, please refer to the Excel file Problem Set 2, Tab FFO. Let's make the following assumptions about a simplified REIT income statement. (All of the numbers are in millions). 250 in revenues; 100 in operating expenses; 50 in depreciation; 50 shares outstanding; 10 in Cap Expenditures; 40% tax rate. REITs are required to distribute 90% of their taxable income to shareholders. In the case of this REIT, what is that amount? 90.0 57 105 48