Given the following information, calculate the Levered Equity Multiple for this property: equity outflow at time zero: $200,000; discount rate: 18%; Entrance Cap Rate: 6.00\%; Exit Cap Rate: 6.25\%; BTCF for year 1: $25,876; BTCF for year 2: $3,998; BTCF for year 3: $23,013; BTER in year 3: 345,000 . 12.60 1.60 1.20 12.32