Sidney is injured in an automobile accident and cannot work. She cannot pay her bills and files for bankruptcy relief under Chapter 7. She is in a state that allows her to claim federal exemptions, and she does so. She lists as exempt $15,000 in equity in her residence; interest in a car of $2,000, interest in jewelry of $400; and retirement funds in her individual retirement account. Her creditors filed an objection to all claimed exemptions. What is the status of the exemption she claimed on the residence?

Group of answer choices

It will likely be allowed because the value claimed is within the federal exemption allowed.

It will likely be disallowed because the federal limit for an exemption for a residence is $8,000.

It will likely be disallowed because the federal limit for an exemption for a residence is $10,000.

It will likely be disallowed because the federal limit for an exemption for a residence is $5,000.

The status of the exemption is unclear without further information regarding the appraised value of the residence.