The Wilmoths plan to purchase a house but want to determine the after-tax cost of financing its purchase. Given their projected taxable income, the Wilmoths are in the 24% Federal income tax bracket and the 8% state income tax bracket (i. e., an aggregate marginal tax bracket of 32%). Assume that the Wilmoths will benefit from itemizing their deductions for both Federal and state purposes. The total cash outlay during the first year of ownership will be $36,000 ($3,600 principal payments, $32,400 qualified residence interest payments). If required, round your interim calculation to nearest dollar. As a result, the initial year after-tax cost of financing the purchase of the home will be $