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Web Chapter 18

• Real Estate and Other Tangible Investments (Art Only)

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Table 18.1 Applying the Income Approach

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Table 18.2 The Effect of Positive Leverage on Return: An Example*

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Table 18.3 The Effect of Negative Leverage on Return: An Example*

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Figure 18.1 Framework for Real Estate Investment Analysis

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Table 18.4 Income Statement, Academic Arms Apartments, 2006

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Table 18.5 Projected Income Statement, Academic Arms

Apartments, 2007

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Table 18.6 Cash Flow Analysis, Academic Arms Apartments, 2007–2011

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Table 18.7 Estimated After-Tax Net Proceeds from Sale, Academic Arms

Apartments, 2011

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Table 18.8 Net Present Value, Academic Arms Apartments*

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Table 18.9 Yield Estimation, Academic Arms Apartments

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Figure 18.2 The Price of Gold,1975–2006