Question
this year mr and mrs franklin paid $93,000 interest on a mortgage incurred in 2008 to build their home in Santa fe.the average principal balance
this year mr and mrs franklin paid $93,000 interest on a mortgage incurred in 2008 to build their home in Santa fe.the average principal balance of the mortgage was $1.43 million. the home has an appraised FMV of only $1.2 million. compute the Franklins' itemized deduction for their home mortgage interest.
$65,035
$58,531
$93,000
none are correct
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Financial & Managerial Accounting For Undergraduates
Authors: Jason Wallace, James Nelson, Karen Christensen, Theodore Hobson, Scott L. Matthews
2nd Edition
161853310X, 9781618533104
