Patricia purchased a home on January 1, 2017, for $1,270,000 by making a down payment of $100,000 and financing the remaining $1,170,000 with a loan, secured by the residence, at 6 percent. From 2017 through 2020, Patricia made interest-only payments on the loan each year in the amount of $70,200. What amount of the $70,200 interest expense that Patricia paid during 2020 may she deduct as an itemized deduction