1. Wayne, a single taxpayer, purchases a new home valued at $725,000, in 2021, borrowing $625,000 from Century National Bank. He also pays $7,250 in points. During 2021 he pays interest of $71,000 on the loan. He also pays $32,000 in real estate taxes during 2021. Wayne pays state income taxes of $25,000.

   What is Wayne's allowable interest deduction on Schedule A in 2021?

   	a.	$ - 0 -
   	b.	$ 7,250
   	c.	$71,000
   	d.	$78,250
   	e.	$82,750