You have purchased a multi-tenant office building for $25,000,000. Your acquisition costs associated with this purchase are

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You have purchased a multi-tenant office building for $25,000,000. Your acquisition costs associated with this purchase are $50,000. The estimated land value is $5,000,000, of which you estimate the depreciable land portion at $1,500,000. You estimate the 7-year property at a value of $3,000,000. You have arranged a 70% LTV, 7-year mortgage at a 4.25% interest rate with 2 points and a 25-year amortization period. Your projected NOI for year 2 is 2,000,000 which includes projected CAPEX (above line) of $180,000. Your marginal tax rate is 40.0%. For year 2 compute the following: Annual Debt Service, BTCF, Interest Expense, Land Depreciation, 7-year depreciation, Building Depreciation, Amortized finance cost, taxable income, tax due, ATCF.