G Bank is considering Jane's application for a 25 -year housing loan of $600,000. The monthly instalment at the proposed housing loan rate of 1.8% p.a. is $2,485.11. The medium term housing loan rate as prescribed by the Monetary Authority of Singapore (MAS) is 3.5% p.a. Monthly repayment based on MAS' medium term rate would be $3,003.74. Jane's only source of income is her monthly salary of $7,000. She has a personal loan which requires a monthly repayment of $600. What is the total debt servicing ratio? 78.4% 51.5% 42.9% 35.5%