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Question 11. 11. (TCO 3) Renting has a common opportunity cost of
(Points : 1)
interest lost on the down payment.
interest lost on the security deposit.
property taxes.
maintenance costs.
interest lost on closing costs.
Question 12. 12. (TCO 3) When a person lives in a cooperative
housing arrangement, this involves (Points : 1)
government-supported rental units.
factory-built and on-site assembly.
individual ownership of a living unit in a building.
a nonprofit organization that rents units to members.
housing units owned by a real estate developer.
Question 13. 13. (TCO 3) Lonette and Al received a statement
reporting that they paid $6,000 in mortgage interest during the past
year. If they are in a 28% tax bracket, this deduction may reduce their
taxable income by (Points : 1)
$6,000.
$1,680.
$4,320.