2 Required Information The following information applies to the questions displayed below art 2 of 5 Derek and Meagan Jacoby recently graduated from State Universty and Derek accepted a job in business consulting while Meagan accepted a job in computer programming. Meagan Inherited $75,000 from her grandfather who recently passed away. The couple is debating whether they should buy or rent a home. They located a rental home that meets their needs. The monthly rent is $2250. They also found a three-bedroom home that would cost $475,000 to purchase The Jacobys could use Meagan's inherltance for a down payment on the home. Thus, they would need to borrow $400,000 to acquire the home. They have the option of paying 2 discount points to receve a fixed interest rate of 4.50 percent on the loan or paying no points and receving a fixed Interest rate of 575 percent for a 30-year fixed loan ints eBook Print References Though anything could happen, the couple expects to live in the home for no more than five years before relocating toa different region of the country, Derek and Meagan don't have any school-related debt, so they will save the $75,000 If they dont purchase a home Also. consider the foitlowing information: .The couple's marginal tax rate is 24 percent Regardless of whether they buy or rent, the couple will temize their deductiongs If they buy, the Jacobys would purchase and move Into the home on January 1. 2018 fthey buy the home, the property taxes for the year are $3.600 Disregard loan-related fees not mentioned above : the coupe does not buy a home, tney wi put their money into their savings account where they earn 5 percent .Assume tmat elil unstated costs are eoual berween the ouy and rent option arnual interest Required: Hep the Jacobys wth their cecisons by answering the following questions (Leave no answer blank. Enter Prev b. What is the approximate break-even point in years for paying the points to receive a reduced interest rate? (To simplity this computation, assume the Jacobys will make interest-only payments, and ignore the tme value of caiculations. Round your finel answer to 1 declmal place.) money) (Do not round Intermedlate Break-even pent ih year