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Business, 26.03.2020 05:43 myparentsrock17

Doug and Sue Click file a joint tax return and decide to itemize their deductions. The Clicks' income for the year consists of $91,000 in salary, $2,500 interest income, and $900 long-term capital loss. The Clicks' expenses for the year consist of $1,000 investment interest expense. Assuming that the Clicks' marginal tax rate is 35 percent, what is the amount of their investment interest expense deduction for the year?

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