Common information for the first block of numerical questions in this HW. You want to purchase an office building in Brooklyn. The property contains 27,500 square feet of rentable space and is currently occupied by multiple tenants each with differing maturities on their respective leases. No lease is currently shorter than 1 year. The annual rent in the 1st year of ownership is $42.50/sq ft. The vacancy rate is 6.5%. You expect to incur collection losses (from tenant default) on 1.5% of the square feet during your first year. The sellers asking price for the property is $7,000,000. The loan must satisfy both the minimum DSCR of 1.2 and maximum LTV of 70%. If you buy the property at the asking price of $7,000,000 using the biggest loan you can get (use the answer from the previous question), what will be your annual mortgage payment? ? State your answer as a number rounded to the nearest cent (e.g. if you get $13.57654, write 13.58)