Question: Construction Finance. ( Building size: 7 0 , 0 0 0 square feet. Land Costs 2 , 0 0 0 , 0 0 0 ;

Construction Finance. (Building size: 70,000 square feet. Land Costs 2,000,000; Hard Costs 7,000,000; Soft Costs 1,000,000; Developer Fee 6% of hard costs; Equity Return 18%. Construction Loan Amount 7,000,000). What is the LTC for this project's construction loan?
Group of answer choices
80%
75%
60%
70%

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