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Assuming a lender is operating with a 40 percent debt-to-income guideline, what is the maximum...

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Accounting

Assuming a lender is operating with a 40 percent debt-to-income guideline, what is the maximum additional monthly debt service that can be allowed if individual has Current Assets of $700,000; Total Assets of $2,000,000; Current Liabilities of $75,000; Total Liabilities of $1,200,000; Annual Gross Income of $180,000; and Monthly Debt Service of $5,000.

(a) $0

(b) $1,000

(c) $12,000

(d) $ 41,667

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