[The following information applies to the questions displayed betow] This year Randy pald $30,700 of interest on his residence. (Randy borrowed $486,000 to buy his residence, which is currently worth $536,000 ) Rendy also paid $3,400 of interest on his car loan and $5,550 of margin interest to his stockbroker (Investment interest expense). How much of this interest expense can Randy deduct as an ltemized deductlon under the following circumstences? Randy recelved $2,920 of Interest this year and no other investment income or expenses. His AGI is $75,000. Required information (The following information apples to the questions displayed below] This year Randy peld $30,700 of Interest on hils residence. (Randy borrowed $486,000 to buy his residence, which is currently worth $536,000.)Randyalsopald$3,400 of interest on his car loan and $5,550 of margin interest to his stockbroker (investment interest expense). How much of this interest expense can Randy deduct as an ltemized deductlon under the following circumstences? b. Rendy had no investment income this year, and his AGi is $75,000