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Last year, Rudolph refinanced his home. Prior to refinancing, his only outstanding debt was the balance due on his original mortgage of $100,000. Rudolph needed
Last year, Rudolph refinanced his home. Prior to refinancing, his only outstanding debt was the balance due on his original mortgage of $100,000. Rudolph needed some additional money take advantage of an investment opportunity, so upon refinancing, Rudolph took out a 30-year mortgage for $250,000. Rudolph can deduct the interest on the entire $250,000. A. True B. False
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