You are analyzing an investment opportunity with the following information:

• Initial purchase price: $450,000
• Expected holding period: 15 years
• NOI is estimated to be $36,000/year for the first seven years and increase to $42,000/year for the last 8 years.
• Loan amount: $400,000 (interest only)
• Monthly mortgage payment is $28,800/year.
• Expected sale (assume no sale expenses) at the end of 15 years at the ``going-out'' cap rate of 8%
• Outstanding loan balance at the end of 15 years: $285,200

Fill out the timeline of the cash flows for this investment. Be sure to include all cash inflows and outflows (i.e., equity investment, BTCF and BTER), and be careful about their signs. (10 points) Year o Year 1-7 Year 8 - 14 Year 15 Fill out the timeline of the cash flows for this investment. Be sure to include all cash inflows and outflows (i.e., equity investment, BTCF and BTER), and be careful about their signs. (10 points) Year o Year 1-7 Year 8 - 14 Year 15