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11. What is the tax treatment of the interest that Janice pays on the $75,000 of cash-out refinancing? a) Fully deductible mortgage debt b) Fully

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11. What is the tax treatment of the interest that Janice pays on the $75,000 of cash-out refinancing? a) Fully deductible mortgage debt b) Fully deductible mortgage debt, but nondeductible for Alternative Minimum Tax (AMT) purposes c) Fully deductible because the proceeds were used for qualified medical purposes d) Nondeductible

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