On January 1, 2010, Your Brother's Business Obtained a 30-Year

Multiple Choice

On January 1, 2010, your brother's business obtained a 30-year amortized mortgage loan for $250,000 at a nominal annual rate of 7.0%, with 360 end-of-month payments. The firm can deduct the interest paid for tax purposes. What will the interest tax deduction be for 2010?

A) $17,419.55
B) $17,593.75
C) $17,769.68
D) $17,947.38
E) $18,126.85