1) The following data, objectives, and constraints have been provided with respect to a proposed venture: Cost (including transaction costs) Net leasable area (square feet) Financing specifications: a. Mortgage loan terms: 9 percent interest; 25 year monthly amortization schedule; renegotiable after 10 years b. Minimum acceptable current yield on equity funds: 6 percent Operating forecast for first year: Market rent per square foot (based on analysis of comparable properties) Vacancy rate (percent) Operating expenses, per sq. ft. of leasable area If the minimum acceptable debt coverage ratio is 1.20 and the maximum loan-to-value ratio is 70 percent, what is the maximum total investment (combined equity funds) that will make the above proposal financially feasible? Please show your sets to arrive at this answer. $3,900,000 29,500 $23.50 9 $9.50