2. Your parents bought a property years ago at $3,500,000 and a mortgage of $2,100,000 was granted by the bank. Today, the property is worth $6,000,000 and the remaining mortgage loan balance is $1,200,000. The bank manager approaches your parents and offers a home equity loan based on a maximum of 60% of the property value. (a) Calculate the maximum amount of the home equity loan. (b) List the factors that your parents should consider before accepting the offer from the bank manager