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a. $4725 b. $210.5 c. $6300 d. $157.5 On April 1, year 1, Mary borrowed $210,000 to refinance the original mortgage on her principal residence

a. $4725
b. $210.5
c. $6300
d. $157.5 image text in transcribed
On April 1, year 1, Mary borrowed $210,000 to refinance the original mortgage on her principal residence Mary paid 3 points to reduce her interest rate from 7 percent to 6 percent. The loan is for a 30-year period. How much can Mary deduct in year 1 for her points paid

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