You have been asked to develop a pro forma statement of cash flow for the coming year for Autumn Seasons, a$.200-$unit suburban garden apartment community. This cornmuraty has a mix of $40$ studio, $80$ one, and $80$ two$-$bedroom apartmerits with current monthly rents of $$550,5600,$ and $$800,$ respectively. Leases with tersants are usually made for $12-$month periods. Current rents are expected to remain foxed for the next six months. After that time, monthly rents for each apartment type should increase by $$10$ per unit arid remain at those levels for the remainder of the year. Ten studios were leased three months ago for $$500,20$ ane$-$bedroom units were leased two months ago for $$580,$ and $10$ two$-$bedroom units were leased last month for $$805.$ All other units have been leased recently at currerit rents. All of the previously leased units also are on $12-$month leases that do not face the $$10$ rate increase after the first $6$ months. When those leases roll over, all are expected to be renewed at market rents upon rollover for an additional $12$ months. Presently, $4$ studios, $6$ one, and $6$ two$-$bedroom units are vacant. This vacancy pattern should remain the same for the remainder of the yesar Autumn Seasons anticipates that during the coming year, it will earn other income from laundry facilities, the awarding of an exclusive cable TV contract, parking, plus fees from net deposits, late fees, and so on of $$200,000.$ Autumn Seasons expect to pay total tumover and operating expenses of $$400$ per month, per occupied unit during the next year. However, it expects to recover some of these expenses for heating and central cooling that it provides to tenants in an amount totaling $$100$ per month, per occupied unit. During the next year, it is also anticipated that $$100,000$ will be required for recurring, make$-$ready expenses $($carpet$,$ paint, drywall repair, etc.$),$ and another $$250,000$ will be required as an allowance for nonrecurring items including parking lot repairs, and so on$.$ A total of $$10,000$ in fees will be paid to Apartment Locator Services, a company that provides marketing services and finds new tenants for Autumn Seasons Required: a$.$ Prepare a statement of operating cash flow $($NOI$)$ for the coming year. b$.$ Add to the $($a$)$ anticipated outlays for recurring and nonrecurring items. What will be net cash flow for the coming year?