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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

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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. What is the maximum taxable income that the REIT can retain? O 5.0 5.3 5.7 O 10.0

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