Ve 2.0 Mississippi Depart. A%2525252leanety 23 well Hansion Password bookmarka 12/2016 Other Seved Hey Seneste Chademy Required information [The following information applies to the questions displayed below) On January 1 of year 1, Arthur and Aretha Franklin purchased a home for $2.05 million by paying $200.000 down and borrowing the remaining $1.85 million with a 6 percent loan secured by the home The Frankris padres only on the loan for year 1. year 2 and year 3 (unless stated otherwise) (Enter your answers in dollars and not in milions of dollars Do not round intermediate calculations. Leave no answer blank. Enter zero applicable) a. What is the amount of interest expense the Franklins may deduct in year a assuming year 1 15 2017 Deductible interest expense > 10 12 17 Mart 10 12 17 Mart