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A lender requires a 1.20 debt coverage ratio as a minimum. If the net operating income of a property is $45,000, what annual amount of
A lender requires a 1.20 debt coverage ratio as a minimum. If the net operating income of a property is $45,000, what annual amount of debt service would provide the required debt coverage ratio?
A. $37,500 or higher
B. $37,500 or lower
C. $54,000 or higher
D. $54,000 or lower
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