Tod pays $2,100 interest on his automobile loan. $120 interest on a loan to purchase a compuher for personal use. $630 interest on credit cards, and $1,100 investment interest expense. Ted has net investment income of $800 Teds deductible interest is: A. $1,100 B. $3,200 C. $900 D. $800 QUESTION 18 Steve and Mary purchase a new condominium in Manhatan on Feb 1,2020 to use as their primary residence. The purchase price of the condominium is $1.5 mulion. The couple obtained a $650,000 mortgoge from the bank and paid the balance in cash. On their joint tax return the couple will be allowed an itemized deduction for interest expense on a princigal balance of up to A. 5750,000 B. $1 milion C. $650,000 D. $1.5 million QUESTION 19 Wayne and Maria purchase a princpal residence on April 1st of the current year. In order to obtain a 30 year mortgage, they are required to pay $7,300 in points at a closing. Charging points is a customary business practice in the area. In addition, they pay $4,300 of interest during the year. What is their current year deduction related to their home? A. $11,700 B. $4,400 C. $11,600 D. $4,580