You are interested in purchasing a business. Current owner of the business is asking $750,000. You estimated that you can borrow a 15-year term loan at 5% interest. You expect 18% return from this project. Current owner opened up the books and you estimated future cash flows. You also estimated that you would be able to sell the business for about $1,100,000 at the end of year 10. Year EBITDA 1 75,000 2 78,000 3 81,000 4 84,000 5 87,000 6 92,000 7 97,000 8 102,000 9 107,000 10 112,000 8 Assuming you will pay $750,000 for this business, what is the maximum amount a lender would be willing to lend if the lender had a Loan-To-Value (LTV) ratio of 70%? Select one: a. 1,072,000 b. 525,000 c. 975,000 d. 225,000