Phil is preparing his individual income tax retum for 2022. Phil will be claiming itemized deductions on his return. During 2022, Phil purchased a new home which is his qualified residence. His average mortgage loan balance for 2022 is $1,200,000 and the interest expense on the mortgage for 2022 is $54,000. His adjusted gross income for 2022 is $250,000. What is the amount of home mortgage interest that Phil can deduct as an itemized deduction for 2022 ? $33,750$54,000$10,000$35,250