Transcribed image text: Y shirleyhollandi1y... SU Financial eBook Calculator Exercise 6-32 (Algorithmic) (LO. 3) Tobias has a brokerage account and buys on the margin, which resulted in an interest expense of $38,800 during the year. Income generated through the brokerage account was as follows: Municipal interest Taxable dividends and interest $77,600 388,000 If required, round any division to two decimal places and use in subsequent computation. Round your final answer to the nearest dollar. How much investment interest can Tobias deduct? Feedbac v Cho My Work Certain income, such as interest on municipal bonds, is tax-exempt. Normally, the law also allows the taxpayer to deduct expenses i the production of income