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You bought a house with a 30 year mortgage with loan size $1,000,000 and interest rate 6%. Assuming the total transaction cost is $8,000 and

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You bought a house with a 30 year mortgage with loan size $1,000,000 and interest rate 6%. Assuming the total transaction cost is $8,000 and your marginal income tax rate is 30%. What is the annual effective cost of this ioan after-tax if your loan will be outstanding for 1 month? 15.91%12.91%13.91%14.91%

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