This year, Major Healy paid $38,500 of interest on a mortgage on his home (he borrowed $770,000 to buy the residence in 2015; $870,000 original purchase price and value at purchase), $5,750 of interest on a $115,000 home equity loan on his home (loan proceeds were used to buy antique cars), and $11,000 of interest on a mortgage on his vacation home (borrowed $220,000 to purchase the home in 2010; home purchased for $550,000). Major Healys AGI is $220,000. How much interest expense can Major Healy deduct as an itemized deduction?