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What is Jim after-tax cost of his house payment

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Problem - Jim has a house payment of $2,000 per month of which $1,700 is deductible interest and real estate taxes with the remaining $300 representing a repayment of the principal balance of the note. Jim's marginal tax rate is 30 percent. What is Jim's after-tax cost of his house payment?

a. $600

b. $540

c. $1,490

d. $1,460

e. Some other amount

Reference no: EM132677353

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