Given the following information, please calculate the total amount distributed to the equity investor and the developer .

Order of distribution:

1) Any outstanding debt

2) Accrued Preferred Return

3) Outstanding Equity

4) To Equity Investor and Developer with a 50/50 split

Sales Price: $3,000,000

Loan Payoff$ 1,500,000

Preferred Return15%

Investment Duration : 3 years

Equity Investment: $ 500.000

(Show work for partial credit)