Multiple Choice
Helen,who is single,is considering purchasing a residence that will provide a $28,000 tax deduction for property taxes and mortgage interest.If her marginal tax rate is 25% and her effective tax rate is 20%,what is the amount of Helen's tax savings from purchasing the residence?
A) $5,600
B) $7,000
C) $21,000
D) $22,400
Correct Answer:
Verified
Correct Answer:
Verified
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