Under the current tax law,what would the annual cost of housing be for a person with a house valued at $150,000,a mortgage rate of 11 percent,property taxes of 3 percent,miscellaneous expenses and depreciation of 1 percent,and housing inflation of 7 percent.The person is in the 30 percent tax bracket.

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The annual cost of housing can be calculated by considering the mortgage interest, property taxes, miscellaneous expenses, and depreciation, while also accounting for the tax deduction benefits and the effect of housing inflation. Here's the breakdown:1. Mortgage interest: 11% of $150,000 = $16,5002. Property taxes: 3% of $150,000 = $4,5003. Miscellaneous expenses and depreciation: 1% of $150,000 = $1,5004. Total expenses before tax benefits: $16,500 + $4,500 + $1,500 = $22,5005. Tax benefits (30% of (mortgage interest + property taxes)): 0.30 * ($16,500 + $4,500) = 0.30 * $21,000 = $6,3006. Net cost after tax benefits: $22,500 - $6,300 = $16,2007. Housing inflation adjustment (reduces the real cost): 7% of $150,000 = $10,5008. Final annual cost considering inflation: $16,200 - $10,500 = $5,700

Under the Current Tax Law,what Would the Annual Cost of Housing