Question 1 points Peter and Lois IMEI paid 51,750 in student loan interest for their dependent daughter, Meg to attend the University of Rhode Island. Peter and Lois had modified AG this year of $146,000 before considering any deductions for interest on qualified education loans. Based on this information and the phase-out table below, what amount can Peter and Lois deduct on this year's tax return related to Meg's student loan interest? Modified AG Deduction Not over $70,000 (5140,000 for married lilling jointly Amount paid up to $200 Above $70,000 (5140,000 for married fing jointly but below 535.000 Amount paid up to $3.500 reduced by the phase-out amount. The phase-out amount is the amount 15170,000 for married in jointly) paid up to $2.500 times the phase-out percentage $0 Equal to or above 55,600 (5170,000 for married fring jointly 50