In connection with purchasing a home, John takes out a mortgage in the amount of $800,000. Two years later, John takes out a home equity loan in the amount of $20,000 and uses the proceeds to help him purchase an automobile. In 2020, John pays $24,000 of interest on the mortgage loan and $1,200 of interest on the home equity loan. Assuming John itemizes deductions in 2020, which of the following is correct? 

a. All of the interest paid by John in 2020 is deductible. 

b. None of the home equity interest is deductible but a portion of the mortgage interest is deductible. 

c. None of the home equity interest is deductible but all of the mortgage interest is deductible. 

d. None of the interest paid by John in 2020 is deductible.