Question: Need a typed answer as well as soon A property has net operating income of $220,000. A lender offers an 8 percent, 20-year, fully amortizing

Need a typed answer as well as soon

A property has net operating income of $220,000. A lender offers an 8 percent, 20-year, fully amortizing mortgage loan (requiring monthly payments) in an amount which will result in a debt coverage ratio of 1.3 and a loan-to- value ratio of 70 percent. What is the value of the property? (Enter your answer rounded to the nearest dollar amount with no punctuation.)

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