A property is sold for $4,915,000 with selling costs of 3% of the sales price. The mortgage balance at the time of sale is $3,600,000. The property was purchased 5 years ago for $4,820,000? Annual depreciation allowances of $153,016 have been taken? If the tax rate is 28%, what is the after-tax cash flow from sale of the property?

Answer rating: 100% (QA)

To calculate the aftertax cash flow from the sale of the property we need to calculate the following ... View the full answer