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Given the following information on a fixed-rate fully amortizing loan, determine the maximum amount that the lender will be willing to provide to the borrower.

Given the following information on a fixed-rate fully amortizing loan, determine the maximum amount that the lender will be willing to provide to the borrower. Loan Term: 30 years, Monthly Payment: $1,249, Interest Rate: 5.17%.

Answer should be formatted as a dollar amount rounded to the nearest cent.

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