The NOI Is $1,000,000, the Debt Service Is $800,000 of Which

Multiple Choice

The NOI is $1,000,000, the debt service is $800,000 of which $700,000 is interest, the depreciation expense is $250,000. What is the Before-tax Cash Flow to the equity investor (EBTCF) if there are no capital improvement expenditures or reversion items this period?

A) $50,000
B) $200,000 = $1,000,000 - $800,000 = PBTCF - DS.
C) $300,000
D) $750,000
E) Insufficient information to answer this question.