A property is available for sale. We require an EDR of 15% on our $600,000 down payment, and we know the prospective property has an NOI of $300,000, before debt service. If we can borrow at 6% for 20 years with monthly payments, what is the most we can pay for the property, in total, to the nearest 000? (HINT: Remember that the CFBT is equal to your NOI minus your debt service! What must your annual debt service be, to make this deal "work?"]

Group of answer choices

$2,000,000

$2,443,000

$2,600,000

$3,043,000