1.- which debt option provides the highest cash on cash return for the first 5 years of the project? (cash of cash return = cashflow after debt service/ equity in project)

\begin{tabular}{l|c|c|c|c|} \hline Total project value (\$) & $35,000,000.00 & & & \\ \hline & & & & \\ \hline Debt & & & & \\ \hline Option & A & B & D & \\ \hline Loan-to-value & 65% & 70% & 70% & 50% \\ \hline Rate (\%) & 3.25% & 3.25% & 3.00% & 4.25% \\ \hline Interest only period (years) & 3 & 3 & 0 & 0 \\ \hline Amortization (years) & 20 & 30 & 30 & 30 \\ \hline \end{tabular}