Assume a lender requires a debt coverage ratio of 1.5. The investor is considering a property with an NOI of $225,000. In a market with loanable funds commanding a 6% annual rate, with monthly compounding over 25 years [or 300 months], what is the most the investor can borrow [to the nearest 10,000], and still meet the lenders DSCR minimum of 1.5?

Group of answer choices

$1.67 million

$2.91 million

$1.94 million

$1.55 million