How much investment interest can murphy deduct

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Reference no: EM132005349

Question: Murphy has a brokerage account and buys on the margin, which resulted interest expense of $24, 400 during the year. Income generated through the brokerage account was as follows: 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 Murphy deduct?

Reference no: EM132005349

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