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Your brother's business obtained a 3 0 - year amortized mortgage loan for $ 1 5 0 , 0 0 0 at a nominal annual

Your brother's business obtained a 30-year amortized mortgage loan for $150,000 at a nominal annual rate of 7.0%, with 360 end-of-month payments. The firm can deduct the interest paid for tax purposes. What will the interest tax deduction be for Year 2?
a. $10,341.58
b. $12,228.52
c. $11,183.35
d. $11,287.87
e. $10,451.73

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