A 99-unit apartment building that was acquired for $2.7 million generates a 7.5% before tax annual return on equity with a $1.5 million 10-year interest-only first mortgage loan at a 5.0% annual interest rate. What is the debt service coverage ratio on the loan? a. 2.2 b. 1.83 c. 0.54 d. 2.7
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