14. A property with an 5% unlevered IRR has a 60% LTV mortgage with an interest rate of 6%. What is the Levered/Equity IRR?

A. 3.5%

B. 5.0%

C. 4.3%

D. none of the choices are correct

15. A property with an 10% unlevered IRR has a 70% LTV mortgage with an interest rate of 7% has Levered/Equity IRR of 17.0%. A new lender will charge 8.0% for an 80% LTV loan. What is the Levered/Equity IRR on the new higher LTV loan?

A. 10.5%

B. 17.0%

C. none of the choices are correct

D. 18.0%