Question 26 1 pts When a mortgage loan is obtained, the cash down payment (equity) required at property acquisition is a function of the acquisition price and the net loan proceeds. Given the following information, determine the required equity down payment on the property: acquisition price: $1,500,000, face amount of loan: $975,000; up-front financing costs: 2 points $2,494,500 $525,000 $544,500 $505,000