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Patricia purchased a home on January 1, 2017 for $1,390,000 by making a down payment of $100,000 and financing the remaining $1,290,000 with a 30-year

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Patricia purchased a home on January 1, 2017 for $1,390,000 by making a down payment of $100,000 and financing the remaining $1,290,000 with a 30-year loan, secured by the residence, at 6 percent. During year 2017 and 2018, Patricia made interest-only payments on the loan of $77,400. What amount of the $77,400 interest expense Patricia paid during 2018 may she deduct as an itemized deduction? (Assume not married filing separately.) Multiple Choice $0 O O $17,400. O O $60,000. O $77,400

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