1. George Perry is considering a new real estate investment opportunity. He has obtained the following information: Cost (including transaction costs): Net leasable area (sq. ft.) $3,200,000 29,000 Financing Specifications: Minimum acceptable current yield on equity funds: 6% Mortgage loan terms: 12% Interest 25 Year Amortization Renegotiable after 10 Years Operating Forecast: Market Rent (per sq. ft. based on comparable properties): Vacancy Rate: Operating Expenses (per sq. ft. of leasable area): $23.50 10% $9.50 Limits: Minimum acceptable debt-coverage ratio (DCR): Maximum loan-to-value ratio (LTV): 1.15 75% What is the minimum gross annual rental revenue that would make this project financially feasible? Suppose that the minimum acceptable debt-coverage ratio is 1.20 (instead of 1.15) and the maximum loan-to-value ratio is 70% (instead of 75%), what is the maximum total investment (combined debt and equity funds) that will make the proposal in Problem i financially feasible