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Martha, who is single, graduated from Tassle Tech and immediately started working as an accountant for Creedon Industries. To finance her college education, she borrowed
Martha, who is single, graduated from Tassle Tech and immediately started working as an accountant for Creedon Industries. To finance her college education, she borrowed $23,000 from a local bank, and pays $1,800 of interest expense during the year. Her adjusted gross income for the year is $39,000. a. Martha can deduct $ of student loan interest b. If Martha borrowed $32,000 to finance her education and paid interest during the year of $2,700, Martha can deduct $ of the interest for adjusted gross income. as student loan interest. Assume the other facts are the same as in part a. Do not round c. When her adjusted gross income is $70,000 Martha can deduct $ intermediate calculations
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