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Miller owns a personal residence with a fair market value of $326,900 and an outstanding first mortgage of $261,520, which was used entirely to acquire

Miller owns a personal residence with a fair market value of $326,900 and an outstanding first mortgage of $261,520, which was used entirely to acquire the residence. This year, Miller gets a home equity loan of $16,345 to purchase new jet skis.

Interest on the $_________ if this mortgage debt is treated as qualified residence indebtedness.

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