You are interested in purchasing a business. Current owner of the business is asking $750,000. You estimated that you can borrow a 15-year term loan at 5% interest. You expect 18% return from this project. Current owner opened up the books and you estimated future cash flows. You also estimated that you would be able to sell the business for about $1,100,000 at the end of year 10. Year EBITDA 1 2 3 4 5 75,000 78,000 81,000 84,000 87,000 92,000 97,000 102,000 107,000 112,000 6 7 8 9 10 What is the maximum interest rate you can afford if you want to borrow $550,000 and can afford $40,000 annual payments with a 15-year term? Select one: a. 1.26% b. 13.29% C. 16.62% d. 1.11%