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The first-year NOI for an office building is $150,000. A lender is willing to provide financing up to a 1.5 debt-coverage ratio. If the mortgage

The first-year NOI for an office building is $150,000. A lender is willing to provide financing up to a 1.5 debt-coverage ratio. If the mortgage has a 5-year maturity, 25-year amortization period, and 6% rate of interest, what is the maximum loan size that you can obtain assuming that payments are made on an annual basis?

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