Grace Calculated Her Gross Debt Service Ratio as 24

Multiple Choice

Grace calculated her Gross Debt Service Ratio as 24%. If her monthly mortgage payments are $980 per month, while monthly property taxes and hydro total another $180 per month, determine her gross monthly income.

A) $6.833.33
B) $6,133.33
C) $5,833.33
D) $5,133.33
E) $4,833.33