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1 0 . Margaret Lindley paid $ 1 5 , 0 0 0 of interest on her $ 3 0 0 , 0 0 0

10.Margaret Lindley paid $15,000 of interest on her $300,000 acquisition debt for her home (fair market value of $500,000), $4,000 of interest on her $30,000 home-equity loan, $1,000 of credit card interest, and $3,000 of margin interest for the purchase of stock. Assume that Margaret Lindley has $10,000 of interest income this year and no investment expenses. How much of the interest expense may she deduct this year? A. $23,000. B. $22,000. C. $19,000. D. $18,000. E. None of these

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