You plan to buy 125 acres that has just come up for sale for $16,300/ac. The farm is irrigated, 100% tillable, and your lender will finance a maximum of 50% LTV at 6.25% interest with semi-annual payments for 20 years and a DSCR of no less than 1.05. You and your lender agree that NOI equal to $78,750/year on average is doable. Answer the following questions: a. (5 points) What is the maximum you can borrow based solely on the lender's DSCR requirement? b. (5 points) What is the minimum the farm would need to appraise for based on the maximum loan amount from 1a? c. (5 points) What is the maximum you can borrow based on the lenders LTV requirement? d. (5 points) To pay $16,300/acre, how much do you have to put down and how much can you finance? e. (5 points) Calculate the actual DSCR and LTV if you pay $16,300 per acre, putting down the amount from 1d above and financing the balance under the lenders terms. f. (10 points) At what price per acre does the DSCR = 1.05 and the LTV = 50% exactly?