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24. A property with an 11% unlevered IRR has an 80% LTV mortgage with an interest rate of 8% has Levered/Equity IRR of 23.0%. A

24. A property with an 11% unlevered IRR has an 80% LTV mortgage with an interest rate of 8% has Levered/Equity IRR of 23.0%. A new lender will charge 9.0% for an 90% LTV loan. What is the incremental cost of borrowing on the new higher LTV loan?

A. 1.0%

B. none of the choices are correct

C. 15.0%

D. 17.0%

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