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! Required information [ The following information applies to the questions displayed below. ] This year Randy paid $ 2 8 , 1 5 0

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This year Randy paid $28,150 of interest on his residence. (Randy borrowed $452,000 to buy his residence, which is currently worth $502,000.) Randy also paid $2,550 of interest on his car loan and $4,275 of margin interest to his stockbroker (investment interest expense). How much of this interest expense can Randy deduct as an itemized deduction under the following circumstances?
a. Randy received $2,240 of interest this year and no other investment income or expenses. His AGI is $75,000.
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