A borrower with a monthly income of Php150,000.00 has a loan with a monthly amortization of Php30,000 and paying monthly association fee and Utility fees of Php1,500 and Php500 respectively. The borrower also has equity of Php200,000 for the second mortgage to the developer without interest for two years. Compute the mortgage debt ratio of the borrower. O Php88,159,684.61 O Php79,200,000.23 O Php81,629,337.60 O Php64,800,000.57