Question
Tom paid $17,000 in mortgage interest and $8,000 in property taxes last year. His average tax rate is 21.5%, his marginal tax rate is 28%.
Tom paid $17,000 in mortgage interest and $8,000 in property taxes last year. His average tax rate is 21.5%, his marginal tax rate is 28%. Compute Tom's tax shield from the mortgage interest and property tax deduction.
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Essentials of Investments
Authors: Zvi Bodie, Alex Kane, Alan J. Marcus
10th edition
77835425, 978-0077835422
