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Jackie is in the 28% marginal tax bracket and has no other itemized deductions except those related to her home. If her standard deduction is $4,750 and she incurs the following costs related to housing, how much tax savings will she receive as a result of her home purchase?

Mortgage interest $14,000
Principal repayment $800
Homeowner's insurance $1,000
Real estate taxes $4,000
Homeowner's association fees $1,200

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M9413544

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