Jim has a house payment of $1,995 per month of which $1,696 is deductible interest and real estate taxes with the remaining $299 representing a repayment of the principal balance of the note. Jim's marginal tax rate is 30%. What is Jim's after-tax cost of his house payment? If required, round your final answer to the nearest dollar.
A. $509
B. $90
C. $1,905
D. $1,486
E. Some other amount
Ans: D. $1,486
Business
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