The following data were provided by a Domestic Corporation for 2020:

Taxes and licenses	40,000
Documentary stamp taxes	2,000
Other percentage taxes	120,000
Refund of local business taxes paid in 2019	10,000
Income tax due for 2020	300,000
Refund of income tax for 2019	25,000
Interest income:
From trade notes receivable	100,000
From peso bank deposits	120,000
From bank deposits abroad	20,000
Interest expense on bank loan	150,000
Tax assessment on underpayment of percentage taxes	75,000
Surcharges on tax assessments	25,000
Interest expense on tax assessments	12,500

Determine the amount of deductible interest expense for 2020 (Train law). Please show me your solution so that this will serve as my reviewer, thanks!