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The interest paid on Josephine Young’s personal residence for the year 2015 totals $4,800; the interest paid on her personal credit card is $80; the interest paid on a note to the National Bank (¾ of which was used to buy state and municipal bonds, the rest to buy stock) is $1,000. If she has interest income of $2,000, what is Josephine’s total interest deduction for the year?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91972811

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