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A 99-unit apartment building that was acquired for $2.7 million generates a 7.5% before tax annual return on equity with a $1.5 million 10-year interest-only first mortgage loan at a 5.0% annual interest rate. What is the debt service coverage ratio on the loan?

a. 2.2

b. 1.83

c. 0.54

d. 2.7

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