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35) You are working for a property holding company. Your boss tells you that he has done some investigating into mortgage rates and terms. He

35) You are working for a property holding company. Your boss tells you that he has done some investigating into mortgage rates and terms. He tells you the mortgage amount will be $1,000,000, at 5.5% interest, for a 25 year term (monthly) and a 1.25 DSC Ratio. What is the annual debt service on the loan?

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