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Keith and Margaret had adjusted gross income of $100,000. They paid real estate taxes of $4,000, mortgage interest of $18,000 automobile loan interest of $3,000,
Keith and Margaret had adjusted gross income of $100,000. They paid real estate taxes of $4,000, mortgage interest of $18,000 automobile loan interest of $3,000, and credit card interest of $2,000. Their total allowable itemized deductions are?
a. 31,000
b. 22,000
c. 18,000
Please explain your answer, thank you!
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