Question: Exercise 10-6 (Algorithmic) (LO. 2) Miller owns a personal residence with a fair market value of $322,850 and an outstanding first mortgage of $258,280, which

Exercise 10-6 (Algorithmic) (LO. 2) Miller owns a personal residence with a fair market value of $322,850 and an outstanding first mortgage of $258,280, which was entirely used to acquire the residence. This year Miller gets a home equity loan of $16,143 to purchase a new fishing boat. How much of this mortgage debt is treated as qualified residence indebtedness

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