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Given the following information, determine the required equity down payment on the property: acquisition price: $1,500,000; face amount of loan: $975,000; up-front financing costs: 2

Given the following information, determine the required equity down payment on the property: acquisition price: $1,500,000; face amount of loan: $975,000; up-front financing costs: 2 points.

A.$ 525,000

B.$ 2,494,500

C $.505,000

D. $ 544,500

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