kimco realty corporation and subsidiaries job title kimco realty ar revision 6 serial date / time tuesday , april 03 , 2007 /10:32 pm job number 142704 type current page no . 65 operator pm2 <12345678> at december 31 , 2006 and 2005 , the company 2019s net invest- ment in the leveraged lease consisted of the following ( in mil- lions ) : .

Table:
 | 2006 | 2005
remaining net rentals | $ 62.3 | $ 68.9
estimated unguaranteed residual value | 40.5 | 43.8
non-recourse mortgage debt | -48.4 ( 48.4 ) | -52.8 ( 52.8 )
unearned and deferred income | -50.7 ( 50.7 ) | -55.9 ( 55.9 )
net investment in leveraged lease | $ 3.7 | $ 4.0
9 .
mortgages and other financing receivables : during january 2006 , the company provided approximately $ 16.0 million as its share of a $ 50.0 million junior participation in a $ 700.0 million first mortgage loan , in connection with a private investment firm 2019s acquisition of a retailer .
this loan participation bore interest at libor plus 7.75% ( 7.75 % ) per annum and had a two-year term with a one-year extension option and was collateralized by certain real estate interests of the retailer .
during june 2006 , the borrower elected to pre-pay the outstanding loan balance of approximately $ 16.0 million in full satisfaction of this loan .
additionally , during january 2006 , the company provided approximately $ 5.2 million as its share of an $ 11.5 million term loan to a real estate developer for the acquisition of a 59 acre land parcel located in san antonio , tx .
this loan is interest only at a fixed rate of 11.0% ( 11.0 % ) for a term of two years payable monthly and collateralized by a first mortgage on the subject property .
as of december 31 , 2006 , the outstanding balance on this loan was approximately $ 5.2 million .
during february 2006 , the company committed to provide a one year $ 17.2 million credit facility at a fixed rate of 8.0% ( 8.0 % ) for a term of nine months and 9.0% ( 9.0 % ) for the remaining term to a real estate investor for the recapitalization of a discount and entertain- ment mall that it currently owns .
during 2006 , this facility was fully paid and was terminated .
during april 2006 , the company provided two separate mortgages aggregating $ 14.5 million on a property owned by a real estate investor .
proceeds were used to payoff the existing first mortgage , buyout the existing partner and for redevelopment of the property .
the mortgages bear interest at 8.0% ( 8.0 % ) per annum and mature in 2008 and 2013 .
these mortgages are collateralized by the subject property .
as of december 31 , 2006 , the aggregate outstanding balance on these mortgages was approximately $ 15.0 million , including $ 0.5 million of accrued interest .
during may 2006 , the company provided a cad $ 23.5 million collateralized credit facility at a fixed rate of 8.5% ( 8.5 % ) per annum for a term of two years to a real estate company for the execution of its property acquisitions program .
the credit facility is guaranteed by the real estate company .
the company was issued 9811 units , valued at approximately usd $ 0.1 million , and warrants to purchase up to 0.1 million shares of the real estate company as a loan origination fee .
during august 2006 , the company increased the credit facility to cad $ 45.0 million and received an additional 9811 units , valued at approximately usd $ 0.1 million , and warrants to purchase up to 0.1 million shares of the real estate company .
as of december 31 , 2006 , the outstand- ing balance on this credit facility was approximately cad $ 3.6 million ( approximately usd $ 3.1 million ) .
during september 2005 , a newly formed joint venture , in which the company had an 80% ( 80 % ) interest , acquired a 90% ( 90 % ) interest in a $ 48.4 million mortgage receivable for a purchase price of approximately $ 34.2 million .
this loan bore interest at a rate of three-month libor plus 2.75% ( 2.75 % ) per annum and was scheduled to mature on january 12 , 2010 .
a 626-room hotel located in lake buena vista , fl collateralized the loan .
the company had determined that this joint venture entity was a vie and had further determined that the company was the primary benefici- ary of this vie and had therefore consolidated it for financial reporting purposes .
during march 2006 , the joint venture acquired the remaining 10% ( 10 % ) of this mortgage receivable for a purchase price of approximately $ 3.8 million .
during june 2006 , the joint venture accepted a pre-payment of approximately $ 45.2 million from the borrower as full satisfaction of this loan .
during august 2006 , the company provided $ 8.8 million as its share of a $ 13.2 million 12-month term loan to a retailer for general corporate purposes .
this loan bears interest at a fixed rate of 12.50% ( 12.50 % ) with interest payable monthly and a balloon payment for the principal balance at maturity .
the loan is collateralized by the underlying real estate of the retailer .
additionally , the company funded $ 13.3 million as its share of a $ 20.0 million revolving debtor-in-possession facility to this retailer .
the facility bears interest at libor plus 3.00% ( 3.00 % ) and has an unused line fee of 0.375% ( 0.375 % ) .
this credit facility is collateralized by a first priority lien on all the retailer 2019s assets .
as of december 31 , 2006 , the compa- ny 2019s share of the outstanding balance on this loan and credit facility was approximately $ 7.6 million and $ 4.9 million , respec- tively .
during september 2006 , the company provided a mxp 57.3 million ( approximately usd $ 5.3 million ) loan to an owner of an operating property in mexico .
the loan , which is collateralized by the property , bears interest at 12.0% ( 12.0 % ) per annum and matures in 2016 .
the company is entitled to a participation feature of 25% ( 25 % ) of annual cash flows after debt service and 20% ( 20 % ) of the gain on sale of the property .
as of december 31 , 2006 , the outstand- ing balance on this loan was approximately mxp 57.8 million ( approximately usd $ 5.3 million ) .
during november 2006 , the company committed to provide a mxp 124.8 million ( approximately usd $ 11.5 million ) loan to an owner of a land parcel in acapulco , mexico .
the loan , which is collateralized with an operating property owned by the bor- rower , bears interest at 10% ( 10 % ) per annum and matures in 2016 .
the company is entitled to a participation feature of 20% ( 20 % ) of excess cash flows and gains on sale of the property .
as of decem- ber 31 , 2006 , the outstanding balance on this loan was mxp 12.8 million ( approximately usd $ 1.2 million ) . .

Question: what is the currency exchange rate cad to usd used to convert the value of the outstanding credit facility as of december 31 , 3006?
Answer: 1.2
Calculation: divide(3.6, 3.1)