George recently received a great stock tip from his friend, Mason. George didn't have any cash on hand to invest, so he decided to take out a $38,000 loan to facilitate the stock acquisition. The loan terms are 8 percent interest with interest-only payments due each year for five years. At the end of the five-year period the entire loan principal is due. When George closed on the loan on April1, 2022 . he decided to invest $26,600 in stock and to use the remaining $11,400 to purchase a four-wheel recreation vehicle. George is unsure how he will treat the interest paid on the $38,000 loan. In 2022, George paid $2.280 interest expense on the loan. (Hint Visit https: / wmwirs gov/ and consider IRS Publication 550) What amount may he deduct as interest in 2022