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Iii <br /> Ili <br /> YEAR 1 2 3 <br /> III GROSS SALES $251, 691 $259,241 $266,792 <br /> (3 lots) (3 lots) (3 lots) <br /> IIEXPENSES <br /> Improvement Costs 604,700 0 0 <br /> all Sales, (5%) 12,585 12,962 13, 340 <br /> Acct, Legal, Adv 1, 000 1, 000 1, 000 <br /> 11 Real Estate Tax 200 200 200 <br /> II15% Profit 37 ,754 38,886 40, 019 <br /> TOTAL EXPENSE $656,239 $53,048 $54,559 <br /> 11 CASH FLOW ($404,548) $206, 193 $212,233 <br /> NPV FACTOR .904977 .818984 .741162 <br /> NPV ($366, 107) $168,869 $157,299 <br /> • YEAR 4 5 <br /> GROSS SALES $274, 343 $93,965 <br /> I (3 lots) (1 lot) <br /> EXPENSES <br /> li Improvement Costs 0 0 <br /> Sales, (5%) 13 ,717 4, 698 <br /> Acct, Legal, Adv 1, 000 1,000 <br /> Real Estate Tax 3,729 932 <br /> 15% Profit 41. 151 14,095 <br /> IITOTAL EXPENSE $59,597 $20,725 <br /> CASH FLOW $214,746 $73,240 <br /> 11 NPV FACTOR . 670735 . 607000 <br /> NPV $144, 038 $44 ,457 <br /> 6 NPV of the five cash flows is: $148,556 <br /> ell $148,556/1,481,040 Sq. Ft. = $.10 per Sq. Ft. <br /> 31 <br />