On january 1 2013 your brothers business obtained a 30-year, Ask an Expert

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On January 1, 2013, your brother's business obtained a 30-year amortized mortgage loan for $350,000 at a nominal annual rate of 7.35%, with 360 end-of-month payments. The firm can deduct the interest paid for tax purposes. What will the interest tax deduction be for 2016.

a).$21,558.37

b).$24,779.74

c).$28,001.11

d).$22,797.36

e).$25,523.13

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Financial Management, Finance

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