The firm can deduct the interest paid for tax purposes

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On January 1, 2012, your brother's business obtained a 30-year amortized mortgage loan for $250,000 at a nominal annual rate of 7%, with 360 end-of-month payments. The firm can deduct the interest paid for tax purposes. What will the interest deduction in year 1?

Reference no: EM131336106

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The firm can deduct the interest paid for tax purposes : On January 1, 2012, your brother's business obtained a 30-year amortized mortgage loan for $250,000 at a nominal annual rate of 7%, with 360 end-of-month payments. The firm can deduct the interest paid for tax purposes. What will the interest deducti..

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