A $10 million real estate project has a 60% LTV loan. The developer will contribute 10% of the total equity and the investor group will provide the remainder. Both the preferred interest of the investor group and the developer has been paid. A Level 1 Promote splits remaining cash flows 60/40 in favor of the investors. Remaining cash flows are equal to $800,000. What is the developer's promoted interest equal to in dollars? Question 8 A $10 million real estate project has a 60% LTV loan. The developer will contribute 10% of the total equity and the investor group will provide the other 90%. Both the preferred interest of the investor group and the developer has been paid. A Level 1 Promote splits remaining cash flows 60/40 in favor of the investors. Remaining cash flows are equal to $800,000. What is the investor group promoted interest equal to in dollars? $480,000$450,000$320,000$300,000 Question 9 A $10 million real estate project has a 60% LTV loan. The developer will contribute 10% of the total equity and the investor group will provide the other 90%. Before the mortgage is paid off, the building is sold for $12 million dollars. When money from the sale is distributed, who will be paid first? The developer for his/her interest. Not enough information is provided. The bank for the remainder of the mortgage. The investors for their interest