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 NM 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 Assume you will sell this business at the end of year 10 for $1,100,000 and your debt balance is $188,000. What will be the proceeds to equity? Select one: a. 1,288,000 b. 1,662,000 c. 912,000 d. 1,024,000