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PlasticWorks Inc. owns a warehouse worth $500,000 that it purchased with cash 10 years ago. The company is experiencing cash flow problems and decides to

PlasticWorks Inc. owns a warehouse worth $500,000 that it purchased with cash 10 years ago. The company is experiencing cash flow problems and decides to apply for a mortgage on the building. The largest loan that the company can get on the mortgage refinance is 70% loan-to-value.

How much will PlasticWorks borrrow?

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