On July 31 of the current year, Marjorie borrows $940,000 to purchase her new home (cost: $1,400,000). The loan is secured by her personal residence. She incurred $37,600 Xin mortgage interest on the home. What is the total amount of mortgage interest Marjorie can deduct in the current year? Selected Answer: $37,600 Answers: $20,142 $10,000 $37,600 $30,000