In most years, when taxpayers donate cash to a public charity, they are allowed to take a deduction of up to of their AGI. 30% 20% 60% 50% In 2019, Nick McCarthy took out a $1,200,000 mortgage to buy a home for his family. Which of the following is true concerning the tax consequences of interest paid on his acquisition indebtedness? a) Nick may not take any deduction of interest paid on his acquisition indebtedness b) Nick may only deduct interest on up to $1,000,000 of his acquisition indebtednes c) Nick may only deduct interest on up to $750,000 of his acquisition indebtedness d) Nick may deduct interest on up to $1,200,000 of his acquisition indebtedness