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Edmond's Restaurant Supply Company purchases a facility for $450,000 and obtains a mortgage with 7% interest to finance $400,000 of that amount. Calculate the amount the company can claim as a yearly tax deduction if it pays $2,330 in interest each month.

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Edmond's Restaurant Supply Company purchases a facility for $450,000 and obtains a mortgage with 7% interest to finance $400,000 of that amount. Calculate the amount the company can claim as a yearly tax deduction if it pays $2,330 in interest each month.






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