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Margaret Lindley paid $ 1 5 , 1 5 0 of interest on her $ 3 0 1 , 5 0 0 acquisition debt for

Margaret Lindley paid $15,150 of interest on her $301,500 acquisition debt for her home (fair market value of $501,500), $4,150 of interest on her $30,150 home-equity debt used to buy a new boat and car, $1,150 of credit card interest, and $3,150 of margin interest for the purchase of stock. Assume that Margaret Lindley has $10,150 of interest income this year and no investment expenses. How much of the interest expense may she deduct this year?
Multiple Choice
$23,600
$22,450
$19,300
$18,300
None of the choices are correct.

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