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Required information The following information applies to the questions displayed below.) This year, Randy paid $28,300 of interest on his residence. (Randy borrowed $486,000 to

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Required information The following information applies to the questions displayed below.) This year, Randy paid $28,300 of interest on his residence. (Randy borrowed $486,000 to buy his residence, which is currently worth $540,000.) Randy also paid $2,600 of interest on his car loan and $4,350 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 $2,280 of interest this year and no other investment income or expenses. His AGI is $75,000. Interest deductible

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