A developer wants to finance a project costing $$2$ million with an $80$ percent, $10-$year loan at an annual interest rate of $8$ percent. The mortgage payment is by annual and it is a partially amortizing loan with a balloon payment of $$167,000$ scheduled at the end of year $10.$ The project's NOI is expected to be $$314,670$ during year $1$ and the NOI is expected to increase at an annual rate of $3\mathrm{.}5$ percent thereafter. The lender will require a debt coverage ratio of at least $1\mathrm{.}20$ for year $10.$ What would be the maximum loan amount that the lender would make based on the NOl and the DCR$?$

$$1,927,830$

$$1,406,995$

$$1,542,264$

$$1,823,009$