If a potential investor estimates the market value of an industrial park to be $10,000,000 and can obtain a loan with the following terms: loan to value of 75%, interest rate of 11%, and 20 years with 3 discount points. The estimated remaining discount expense that can be taken as a tax deduction as a result of a sale after a 7 year holding period is

1)

$11,250

2)

$78,750

3)

$146,250

4)

$225,000

5)	none of the above.