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Margaret Lindley paid $15,070 of interest on her $300,700 acquisition debt for her home (fair market value of $500,700). $1,070 of credit card interest, and

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Margaret Lindley paid $15,070 of interest on her $300,700 acquisition debt for her home (fair market value of $500,700). $1,070 of credit card interest, and $3.070 of margin interest for the purchase of stock. Assume that Margaret Lindley has $10,070 of interest income this year and no investment expenses. How much of the interest expense may she deduct this year? Multiple Choice $19,140. $23.280 None of he choices are correct 18 340

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