Use the following information to answer the next three questions: Suppose a home buyer is faced with two options to finance his $287,000 home purchase. Option 1 is a 70% LTV loan at 1.85% for 15 years with monthly payments. Option 2 is a 90% LTV loan at 3.35% for 30 years with monthly payments. The lender quotes 2 discount points with Option 1 and 1 discount point with Option 2. The lender also quotes a 1% origination fee for both loans. Finally, the lender quotes a 4% prepayment penalty for both loans. D Question 25 3 pts Assume the buyer intends to sell the home and repay the loan after 12 years. What is the total payoff on loan 1 at that time? O $46,545.54 $51,148.94 $79.268.47 $133,583.03 O $152,666.32 D Question 26 3 pts Assume the buyer intends to sell the home and repay the loan after 12 years. What is the total payoff on loan 2 at that time? $108,284.87 $122,692.26 $137,745.17 $163,968.66 $191,843.34 Question 27 4 pts Assume the buyer intends to sell the home and repay the loan after 12 years. What is the incremental borrowing cost of the extra financing obtained if Option 2 is selected? O 1.22% 3.43% 4.68% O 5.77% 07.19%