On January 1, 2013, your brother's business obtained a 30-year amortized mortgage loan for $350,000 at a nominal annual rate of 7.35%, with 360 end-of-month payments. The firm can deduct the interest paid for tax purposes. What will the interest tax deduction be for 2016.
a).$21,558.37
b).$24,779.74
c).$28,001.11
d).$22,797.36
e).$25,523.13