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Emeril borrows $340,000 to finance taxable and tax-exempt investments. he incurs $18,000 investment interest expense, allocated equally between the taxable and tax-exempt investments. ignore any possible investment interest expense limitation. how much of the interest expense is deductible, and where is it deductible? a) $18,000 for agib) $18,000 from agic) $9,000 for agid) $9,000 from agi
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Emeril borrows $340,000 to finance taxable and tax-exempt investments. he incurs $18,000 investment...
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