The cash flows below provide the expected year 1 cash flows for a potential real estate investment. Based on these numbers what will the property's equity dividend rate be if you expect to purchase the property for $1.3 million using a loan for 70% of the purchase price? Year 1 Number of Units 100 Average Rent $1,500 Potential Gross Income $150,000 Vacancy and Collection Losses ($10,500) Effective Gross Income $139,500 Operating Expenses ($53,010) Capital Expenditures ($5,580) Net Operating Income $80,910 Annual Debt Service ($73,842) Before-Tax Cash Flow $7,068

Listed below are several transactions that took place during the first two years of operations for the law firm of pete, pete, and roy.year 1 year 2amounts billed to clients for services rendered $ 170,000 $ 220,000 cash collected from clients 160,000 190,000 cash disbursements salaries paid to employees for services rendered during the year 90,000 100,000 utilities 30,000 40,000 purchase of insurance policy 60,000 0 in addition, you learn that the company incurred utility costs of $35,000 in year 1, that there were no liabilities at the end of year 2, no anticipated bad debts on receivables, and that the insurance policy covers a three-year period.required: 1. & 3. calculate the net operating cash flow for years 1 and 2 and determine the amount of receivables from clients that the company would show in its year 1 and year 2 balance sheets prepared according to the accrual accounting model.2. prepare an income statement for each year according to the accrual accounting model.