Mindy paid $20,000 of interest on her $300,000 acquisition debt for her home (fair market value of $500,000), $15,000 of interest on a second mortgage to improve her residence, $5000 on a $100,000 home equity loan used to pay tuition at SFSU, $2,000 of credit card interest, and $4,000 of margin interest for the purchase of stock. Assume that Mindy has $10,000 of interest income this year and no investment expenses. How much of the interest expense may she deduct this year?

Select one:

a. $44,000.

b. None of the choices are correct.

c. $39,000.

d. $24,000

e. $29,000.