Mr. and Mrs. Kim, married filing jointly, own a principal residence and a vacation home. Each residence is subject to a mortgage that qualifies as acquisition debt, and both mortgages were incurred before December 15, 2017. This year, the mortgage holders provided the following information: Mortgage Interest Paid Average Balance of Mortgage Principal residence Vacation home $ 44,500 26,000 $ 967,800 359,500 Required: Assume the taxable year is 2022. Compute Mr. and Mrs. Kim's qualified residence interest. Note: Do not round intermediate calculations. Round your final answer to the nearest dollar amount. Qualified residence interest