14. William paid the following expenses during 2020: Interest on automobile loan...... $1,500 Interest on bank loan (loan proceeds were used to purchase municipal bonds.............$5,000 Interest on home mortgage for period January 1 to June 29, 2020... $1,800 Penalty payment for prepayment of home mortgage on June 29, 2020........... $1,200 What is the maximum amount that William can utilize as interest expense in calculating itemized deductions for 2020? a. $3,000 b. $3,150 c. $3,300 d. $9,500