You have recently purchased a 32-unit apartment building with year 1 NOI of $9,725 per unit per year. You purchased the property based on an 8% cap rate. The appraisal your lender obtained indicated a value of $4,000,000. Your lender has quoted you the following terms: 7.15% interest rate 30-year amortization Monthly compounding 60% LTV ratio Determine the following: 3a. The purchase price you are paying based on the year 1 NOI and cap rate given. 3b. The principal amount for the loan (max loan amount based on LTV). 3c. The equity contribution/down payment for the purchase. 3d. The annual debt service for the loan 3e. The debt coverage ratio based on the year 1 NOI. 3f. The debt yield based on the year 1 NOI. 3g. The before-tax cash flow for year 1. 3h. The equity dividend rate for year 1. Your answer: