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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 Toms tax shield from the mortgage interest and property tax deduction. (Answer is not 6160)
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