Required information Problem 1-67 (LO 1-4) (Algo) [The following information applies to the questions displayed below.] On November 1 of this year, Jaxon borrowed $33,000 from Bucksnort Savings and Loan for use in his business. In December, Jaxon paid interest of $2,970 relating to the 12 -month period from November of this year through October of next year. Note: Do not round intermediate calculations. roblem 1.67 Part-a (Algo) How much interest, if any, can Jaxon deduct this year if his business uses the cash method of accounting for tax purposes