Margaret Lindley paid $15,190 of interest on her $301,900 acquisition debt for her home (fair market value of $501,900), $1,190 of credit card interest, and $3,190 of margin interest for the purchase of stock. Assume that Margaret Lindley has $10,190 of interest income this year and no investment expenses. How much of the interest expense may she deduct this year?

Multiple Choice

1. $23,760.
2. $22,570.
3. $19,380.
4. $18,380.
5. None of the choices are correct.