Lionel is an unmarried law student at State University Law School, a qualified educational institution. This year Lionel borrowed $24,000 from County Bank and paid interest of $1,440.Lionel used the loan proceeds to pay his law school tuition.Calculate the amounts Lionel can deduct for interest on higher education loans under the following circumstances:

c.Lionel's AGI before deducting interest on higher-education loans is $90,000.