The Johns bought a home in January and borrowed $416000 to finance it. The mortgage interest and principal payment is $1969 per month. In the first year, they paid \$18611 in interest, \$6932 in principal, and \$9514 in property taxes. They are in the 24% marginal tax bracket. Approximately, how much will they save in federal income taxes from home ownership the first year, if itemizing deductions? (Round to the nearest whole dollar.) $4489$8414$6750$2283 Donald is applying for a home loan and wants to buy a house worth $351500. How much of a minimum down payment will he have to make to avoid mortgage insurance? $70300$35150$87375$52725