You are interested in purchasing a commercial property. You project that the propertys NOI next year will be $1,200,000. The current cap rate for similar properties is 8%. You are interested in acquiring a loan with a 30-year amortization term at a 6% annual interest rate. Based on the two metrics provided below calculate the loan amount. You must show all your calculations to receive full credit. (a) LTV = 75% [8 points] (b) DCR = 1.35