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Problem
#99280

If Sophie itemizes her deductions for 2004, the amount deductible for interest expense as an itemized deduction is

During 2004, Sophie paid the following interest charges:

          Home mortgage                         $5,000
          On loan to purchase a new car     2,500
          On student loan                           800

If Sophie itemizes her deductions for 2004, the amount deductible for interest expense as an itemized deduction is:

a.     $2,500.
b.    $5,000.
c.     $7,500.
d.    $8,300.
e.     None of the above.


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