A taxpayer takes out a loan secured by property used in their business and they use the proceeds in two ways. They part of the loan in their business to purchase machinery and equipment and they use the other portion to buy a new personal vehicle. Following the rules for interest tracing under Regulations Section 1.163-8T; How would the taxpayer need to treat the interest paid on this loan for TY2023? Select one: a. Since they used part of the loan proceeds for a personal, nondeductible reason; They cannot take the interest as a deduction for any reason. b. They could deduct the entirety of the interest paid as a business expense because the loan is secured by the business property. c. They would need to allocate the interest proportionally between the business asset purchases (as a business expense) and the personal vehicle (which would be nondeductible). d. They would need to allocate the interest proportionally between the business asset purchases (as a business expense) and the personal vehicle (which would be itemized)