Jack has a semi-detached townhouse he bought 4 years ago for $600,000. He got an inheritance with which he had been able to pay off the mortgage, so the house is now free and clear. The semi-detached townhouse right beside his own, which is exactly the same as his current one is selling for $450,000. Jack saw this as an opportunity to buy it as an investment property. He wanted to talk to his financial advisor to see if he can get approved for a Home Equity line of credit to borrow money for the purchase of the investment property. How much can Jack borrow if he applies for the HELOC?

$450,000
	$480,000
	$600,000
	$360,000