This revenue ruling provides various prescribed rates for federal income tax purposes for March 1998 (the current month). Table 1 contains the short-term, mid-term, and long-term applicable federal rates (AFR) for the current month for purposes of section 1274(d) of the Internal Revenue Code. Table 2 contains the short-term, mid-term, and long-term adjusted applicable federal rates (adjusted AFR) for the current month for purposes of section 1288(b). Table 3 sets forth the adjusted federal long-term rate and the long-term tax-exempt rate described in section 382(f). Table 4 contains the appropriate percentages for determining the low-income housing credit described in section 42(b)(2) for buildings placed in service during the current month. Finally, Table 5 contains the federal rate for determining the present value of an annuity, an interest for life or for a term of years, or a remainder or a reversionary interest for purposes of section 7520.

TABLE 1 Applicable Federal Rates (AFR) for March 1998
Period for Compounding

	Annual	Semiannual	Quarterly	Monthly
Short-Term AFR	5.39%	5.32%	5.29%	5.26%
110% AFR	5.94%	5.85%	5.81%	5.78%
120% AFR	6.48%	6.38%	6.33%	6.30%
130% AFR	7.04%	6.92%	6.86%	6.82%
Mid-Term AFR	5.59%	5.51%	5.47%	5.45%
110% AFR	6.15%	6.06%	6.01%	5.98%
120% AFR	6.72%	6.61%	6.56%	6.52%
130% AFR	7.29%	7.16%	7.10%	7.06%
150% AFR	8.44%	8.27%	8.19%	8.13%
175% AFR	9.87%	9.64%	9.53%	9.45%
Long-Term AFR	5.91%	5.83%	5.79%	5.76%
110% AFR	6.51%	6.41%	6.36%	6.33%
120% AFR	7.12%	7.00%	6.94%	6.90%
130% AFR	7.72%	7.58%	7.51%	7.46%

TABLE 2, Adjusted AFR for March 1998

Short-term adjusted AFR	3.77%	3.74%	3.72%	3.71%
Mid-term adjusted AFR	4.14%	4.10%	4.08%	4.07%
Long-term adjusted AFR	4.88%	4.82%	4.79%	4.77%

TABLE 3, Rates Under Section 382 for March 1998

Adjusted federal long-term rate for the current month	4.88%
Long-term tax-exempt rate for ownership changes during the current month (the highest of the adjusted federal long-term rates for the current month and the prior two months).	5.10%

TABLE 4, Appropriate Percentages Under Section 42(b)(2) for March 1998

Appropriate percentage for the 70% percent value low-income housing credit	8.35%
Appropriate percentage for the 30% present value low-income housing credit	3.58%

TABLE 5, Rate under Section 7520 for March 1998

Applicable federal rate for determining the present value of an annuity, an interest for life or a term of years, or a remainder or reversionary interest

6.8%