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Miller owns a personal residence with a fair market value of $366,050 and an outstanding first mortgage of $292,840. Miller gets a second mortgage on

Miller owns a personal residence with a fair market value of $366,050 and an outstanding first mortgage of $292,840. Miller gets a second mortgage on the residence and in return borrows $18,303 to purchase new jet skis. Interest on the $__________ of first and second mortgage debt is treated as qualified residence indebtedness.

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