Assume that lenders require a debt coverage ratio of at least 1.2 to qualify for a commercial mortgage loan. Which of the following 1st year debt service amounts would be the maximum acceptable debt service amount, to qualify for a mortgage loan on a property which has: Estimated net operating income in the 1st year: $300,000 Purchase price: $1,500,000 Effective gross income: $500,000 A. $270,000 B. $1,000,000 C. $290,000 D. $240,000 E. $375,000