Javier and Anita Sanchez purchased a home on January 1, 2022, for $720,000 by paying $240,000 down and borrowing the remaining $480,000 with a 7 percent loan secured by the home. The loan requires interest-only payments for the first five years. The Sanchezes would itemize deductions even if they did not have any deductible interest. The Sanchezes' marginal tax rate is 32 percent Required: a. What is the after-tax cost of the interest expense to the Sanchezes in 2022? Note: Round your intermediate calculations to the nearest whole dollar amount. b. Assuming the interest expense is their only itemized deduction for the year and that Javier and Anita file a joint return, have great eyesight, and are under 60 years of age, what is the after-tax cost of their 2022 interest expense? Note: Round your intermediate calculations and the final answer to the nearest whole dollar amount. Complete this question by entering your answers in the tabs below. Required A Required B What is the after-tax cost of the interest expense to the Sanchezes in 2022? Note: Round your intermediate calculations to the nearest whole dollar amount. After-tax cost of the interest expense Required A Required B Assuming the interest expense is their only itemized deduction for the year and that Javier and Anita file a joint return, have great eyesight, and are under 60 years of age, what is the after-tax cost of their 2022 interest expense? Note: Round your intermediate calculations and the final answer to the nearest whole dollar amount. After-tax cost of the interest expense < Required A Required