You are considering the purchase of a quadruplex apartment building, Effective gross Income (EGI) during the first year of operations is expected to be $36,000 ($750 per month per unit). First-year operating expenses are expected to be $14,400 (at 40 percent of EGI) . Ignore capital expenditures. The purchase price of the quadruplex is $245,000. The acquisition will be financed with $75,000 in equity and a $170,000 standard fixed-rate mortgage. The interest rate on the debt financing is six percent and the loan term is 30 years with monthly payments. Assume the lender requires a minimum debt coverage ratio of 1.3. What is the largest loan that you could obtain if you decide to borrow more than $170,000 (rounded to $Thousands)? Excel a) $231,000 b) $198,000 c) $206,000 d) $245,000 (i.e., min DCR of 1.3 allows you finance the full acquisition price) e) $223,000 f) $214,000 R