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Assume a lender requires a 1.3 debt coverage ratio as a minimum and the net operating income of a property is $111,700. What is the

Assume a lender requires a 1.3 debt coverage ratio as a minimum and the net operating income of a property is $111,700. What is the maximum loan you would expect to negotiate if a lender is offering a 30 year self-amortizing loan structure at 7% (with monthly payments)? (rounded)

a.

$1,241,400
b.

$988,400
c.

$1,076,200
d.

$849,600

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