Question 1 You are considering the purchase of a shopping center for $5.5 million. The center's first year NOI is estimated to be $489,500. You borrow $4 million and your annual mortgage payment is $411,063.28. a) Calculate: cap rate, equity dividend rate, net income multiplier, debt coverage ratio, debt yield ratio b) If your bank requires a minimum debt coverage ratio of 1.3, what is the maximum annual mortgage payment you can afford