In 2006, Liam, who is single, purchased a personal residence for $340,000 and took out a mortgage of $200,000 on the property. In May of the current year, when the residence had a fair market value of $440,000 and Liam owed $140,000 on the mortgage, he took out a home equity loan for $220,000. He used the funds to purchase a recreational vehicle, which he uses 100% for personal use.

a. Can Liam deduct all of the interest related to the original mortgage? yes

b. Can Liam deduct all of the interest related to the home equity loan of $220,000? no

c. For the current year, the maximum amount of debt on which Liam can deduct interest is $ .