ControlYou are acquiring an industrial property for $$20$ million at a $7\%$ cap rate, $70\%$ first mortgage

loan at $6\%$ interest rate and $30-$year amortization and due in seven years and a $$2$ million mezza$-$

nine loan at $7\%$ interest only and due in seven years. What is the equity in the property at the end

of seven years if the projected market value is $$25$ million?

$($A$)$ $$12,450,486$

$($B$)$ $$14,372,462$

$($C$)$ $$10,450,486$

$($D$)$ $$9,000,000$