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What is Stephanie interest expense deduction

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Question - Stephanie, a taxpayer in the 24% marginal tax bracket, borrows $100,000 at 7% interest to invest in 6% tax-exempt municipal bonds (annual loan interest expense is $7,000). What is Stephanie's interest expense deduction?

1) $0

2) $1,000

3) $6,000

4) $7,000

Reference no: EM132759865

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