1. Calculate the Gross Debt Service (GDS) and the Total Debt Service (TDS) ratios for the following data. (5 marks) Monthly mortgage payment = $2,725 Property taxes = $325 Heating costs $240 Other housing costs = $195 Personal loan payment = $275 Car loan payment = $325 Credit card payment = $275 Gross monthly household income = $14,050 2. What amount would a person with actual cash value (ACV) coverage receive for three-year- old furniture destroyed by a fire? The furniture cost $2,740 originally but would cost $5,480 to replace today and had an estimated life of six years. (2 marks)