Problem 5-18 Taxes (LO 5.7) 2, 2018. Jane pays the property taxes covering the full calendar year in October, which amount to $2,500. How much may Mike and Jane each deduct for property taxes in 20187 Use a 365-day year. If required, round any division to five decimal places and use rounded amounts in subsequent computations. Round your final answers to the nearest dollar. Mike's deduction Jane's deduction