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Tobias has a brokerage account and buys on the margin, which resulted in an interest...

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Accounting

Tobias has a brokerage account and buys on the margin, which resulted in an interest expense of $52,000 during the year. Income generated through the brokerage account was as follows:

Municipal interest $104,000
Taxable dividends and interest 520,000

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 Tobias deduct?

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