Business, 12.07.2021 23:10 smagallanes

A farmer is considering borrowing money from a bank. Given the following information:Initial loan amount is $52,000.The loan will be fully amortized in 3 years at 10%.Marginal tax rate is 15%.(i) What is the tax saving in the 1st year?a. $917.65 b. $780.00 c. $663.00 d. None of the answers are correct (ii) What is the tax saving in the 2nd year?a. $626.00 b. $640.41 c. $462.70 d. $544.35(iii) What is the total interest payment for this loan?a. $9,405.56 b. $12,287.97c. $10,729.91 d. None of the answers are correct

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A farmer is considering borrowing money from a bank. Given the following information:Initial loan am...

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