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For the current year, Bongsik paid $3,000 of interest on qualified education loans. Bongsik files married filing jointly and reports modified AGI of $157,000. What

For the current year, Bongsik paid $3,000 of interest on qualified education loans. Bongsik files married filing jointly and reports modified AGI of $157,000. What is Bongsik's deduction for interest expense on an educational loan?

Multiple Choice

$2,500

$3,000

$1,500

$1,000

None of the choices are correct.

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