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A property is purchased for $20 million. Financing is obtained with a 75% loan-to-value ratio with annual payments of $1,200,000. The property produces an NOI

A property is purchased for $20 million. Financing is obtained with a 75% loan-to-value ratio with annual payments of $1,200,000. The property produces an NOI of $1.5 million. What is this propertys equity dividend rate?

Group of answer choices

7.50%

10.00%

5.00%

6.00%

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