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What is your tax deduction for the month

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Reference no: EM132786120

Question - You bought a house with a 30-year mortgage with loan size $200,000 and interest rate 5%. Assuming the total transaction cost is $5,000 and your marginal income tax rate is 25%. What is your tax deduction for the 3rd month?

a. $207.83

b. $201.35

c. $219.83

d. $301.94

Reference no: EM132786120

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