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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

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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 1? $11,183.35 $8,570.42 $10,451.73 $12,228.52 $11,287,87

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