developer wants to finance a project costing $1.5 million with a 70 percent, 20 -year loan at an interest rate of 4.5 ercent. The project's NOI is expected to be $100,000 during year 1 and the NOI, as well as its value, is expected to crease at an annual rate of 2 percent thereafter. The lender will require an initial debt coverage ratio of at least 20. a. Would the lender be likely to make the loan to the developer? Support your answer with a cash flow statement for a five-year period. Yes, cash flow would increase as follows: b. Based on the projection in (a), what would be the maximum loan amount that the lender would make if the debt coverage ratio was 1.20 for year? developer wants to finance a project costing $1.5 million with a 70 percent, 20 -year loan at an interest rate of 4.5 ercent. The project's NOI is expected to be $100,000 during year 1 and the NOI, as well as its value, is expected to crease at an annual rate of 2 percent thereafter. The lender will require an initial debt coverage ratio of at least 20. a. Would the lender be likely to make the loan to the developer? Support your answer with a cash flow statement for a five-year period. Yes, cash flow would increase as follows: b. Based on the projection in (a), what would be the maximum loan amount that the lender would make if the debt coverage ratio was 1.20 for year