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Since interest paid for business use is tax deductible how

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Reference no: EM13572547

Five years ago you bought a $131,000 building to house your business using a 25 year mortgage at 12% per year paid monthly.

a. Since interest paid for business use is tax deductible, how much interest did you pay in the fifth year? In the 6th year?

b. How much interest did you pay in year one?

Reference no: EM13572547

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