Exercise $10-19($Algorithmic$)($LO$\mathrm{.}5)$

Miller owns a personal residence with a fair market value of $$216,200$ and an outstanding first mortgage of $$172,960,$ which was used entirely to acquire the residence. This year, Miller gets a home equity loan of $$10,810$ to purchase a new fishing boat for personal use.

How much of this mortgage debt is treated as qualified residence indebtedness?

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