Patricia purchased a home on January 1, 2017 for $1,220,000 by making a down payment $100,000 and financing the remaining $1,120,000 with a 30-year a loan, secured by the residence, at 6%. During year 2017 and 2018, Patricia made interest-only payments on the loan of $67,200. What amount of $67,200 interest expense Patricia paid during 2018 may she deduct as an itemized deduction?

1. 0

2. 7,200

3. 60,000

4. 67,200