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Hello everyone. Im stuck on this question and need some help. Johnny Rocket is looking to take out a home equity loan to retrofit his

Hello everyone. Im stuck on this question and need some help.

Johnny Rocket is looking to take out a home equity loan to retrofit his classic car collection with CD players, new paint jobs, and neon lights. Use the following information to determine the maximum home equity loan amount that Johnny can receive, according to Kentucky law.

300.000 - Value of classic car collection

150,000 - Current market value of home

90,000 - Outstanding mortgage balance of home

58,000 - Estimated cost of retrofitting. paint jobs, and neon lights

O286.000

O187.500

O97.500

2,000

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