Help Required information The following information applies to the questions displayed below] On January 1 of year 1, Jason and Jill Marsh acquired a home for $500,000 by paying $400,000 down and borrowing $100,000 with a 7 percent loan secured by the home. On January 1 of year 2, the Marshes needed cash so they refinanced the original loan by taking out a new $250,000 7 percent loan. With the $250,000 proceeds from the new loan, the Marshes paid off the original $100,000 loan and used the remaining 5150,000 to fund their sons college education. al facts, except that the Marshes use the $150,000 cash from the refinancing to add two rooms and a gerage to refinanced loan may the Marshes deduct in year 2