22. Franklin and Sarah own their personal residence. The is $50,000. were used for personal limited to: They refinanced their h ce. The outstanding balance on their first mortgage Purposes. Thout a new mortgage for $250,000. The proceeds interest is The amount of mortgage which generates deductible a. $50,000 b. $150,000 c. $200,000 d. $250,000 e. none of the above 23. During 2017, Florence paid the following interest charges: Home mortgage On loan to purchase a new car On loan to purchase municipal bonds (tax-exempt) $3,100 350 700 If Florence itemizes her deductions for 2017, the amount deductible as interest expense is: a. $4,150. b. $3,800. c. $3,450. d. $3,100. e. None of the above. Matt owned stock in White Corporation that he donated to a university (a qualified charitable tion) on May 1, 2017. What is the amount of Matt's deduction assuming that he had d the stock for $3,500 on March 3, 2017, and the stock had a value of $4,600 when he 24. iza made the donation? (Hint: pay attention to the dates) a. $1,100. b. $3,500. c. $4,050. d. $4,600. e. None of the above