Russ and Lois Have a Home Valued at $96,000 and an Outstanding

Multiple Choice

Russ and Lois have a home valued at $96,000 and an outstanding mortgage of $60,000.If their lender is willing to provide a home equity loan of up to 75% of market value,how much could they borrow using a home equity loan?

A) $ 0
B) $12,000
C) $27,000
D) $28,000
E) $36,000