Given the following information regarding an income producing property financed with a 30-year, 8% mortgage loan with monthly payment and loan-to-value (LTV) ratio of 75%, determine the annual debt service: expected holding period: five years; 1st year expected NOI: $89,100; 2nd year expected NOI: $91,773; 3rd year expected NOI: $94,526; 4th year expected NOI: $97,362; 5th year expected NOI: $100,283; current market value: $885,000; net sale proceeds of property at end of year 5: $974,700 (assuming no up-front financing costs)

A) $60,072 B) $50,344 C) $58,444 D) $81,929