You have noticed an ad listing a motel for sale. After doing some research, you estimate that the 20 rooms can be rented for $60 per day with an occupancy rate of 80% per year. You have found a management company that will run the motel and take care of daily housekeeping for 10% of the rents. You estimate that repairs and maintenance costs will be $3,000 per month and that other cash expenses will be $4.000 per month. You plan to sell the motel at the end of the third year for $500,000. How much are annual net cash flows? What would be the annual net cash flows for the motel? A $ 262,336 B. none of the listed choices C. $ 119,040 D. $ 58,948 E. $ 231,360