1. What does it mean when it is said that a company is excessively leveraged? What could be the effects of excessive leverage? You may want to search the phrase effect of excessive leverage on the Internet. 2. An entrepreneur is considering a new project consisting of an apartment building with 50 units. Each unit can be rented for $1,000/month. It is expected to have an average vacancy rate of 10%. Net operating expenses are budgeted as 30% of the project's gross annual income. What would be the economic value of this project, using a cap rate of 8%? 3. A line of credit has a balance of $700,000 during the first 10 days of June, and $300,000 during the remaining 20 days. If the agreed-upon APR is 10% compounded daily, what is the total interest for the month