This year, Major Healy paid $35,750 of interest on a mortgage on his home (he borrowed $715,000 to buy the residence in 2015; $815,000 original purchase price and value at purchase), $5,500 of interest on a $110,000 home equity loan on his home (loan proceeds were used to buy antique cars), and $8,250 of interest on a mortgage on his vacation home (borrowed $165,000 to purchase the home in 2010; home purchased for $412,500). Major Healy’s AGI is $220,000. How much interest expense can Major Healy deduct as an itemized deduction?

At december 31, 2016, pina corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,810 shares $10,781,000 common stock, $5 par, 4,026,000 shares 20,130,000 during 2017, pina did not issue any additional common stock. the following also occurred during 2017. income from continuing operations before taxes $21,950,000 discontinued operations (loss before taxes) $3,505,000 preferred dividends declared $1,078,100 common dividends declared $2,300,000 effective tax rate 35 % compute earnings per share data as it should appear in the 2017 income statement of pina corporation