Lionel is an unmarried law student at State University Law School, a qualified educational institution. This year Lionel borrowed $27,000 from County Bank and paid interest of $1,620. Lionel used the loan proceeds to pay his law school tuition. Calculate the amounts Lionel can deduct for interest on higher-education loans under the following circumstances

Afirm wants to strengthen its financial position. which of the following actions would increase its current ratio? a. reduce the company's days' sales outstanding to the industry average and use the resulting cash savings to purchase plant and equipment.b. use cash to repurchase some of the company's own stock.c. borrow using short-term debt and use the proceeds to repay debt that has a maturity of more than one year.d. issue new stock, then use some of the proceeds to purchase additional inventory and hold the remainder as cash.e. use cash to increase inventory holdings.