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Miller owns a personal residence with a fair market value of $ 3 0 3 , 9 5 0 and an outstanding first mortgage of
Miller owns a personal residence with a fair market value of $ and an outstanding first mortgage of $ which was used
entirely to acquire the residence. This year, Miller gets a home equity loan of $ to purchase a new fishing boat for personal use.
How much of this mortgage debt is treated as qualified residence indebtedness?
$
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