Five years ago, Tom loaned his son John $20,000 to start a business. A note was executed with an interest rate of 8%, which is the Federal rate. The note required monthly payments of the interest with the $20,000 due at the end of ten years. John always made the interest payments until last year. During the current year, John notified his father that he was bankrupt (as determined by the courts) and would not be able to repay the $20,000 or the accrued interest of $1,800. Tom is an accrual basis taxpayer whose only income is salary and interest income (no capital gains). The proper treatment for the nonpayment of the note on his 2018 tax return is: a. No deduction. b. $3,000 deduction. c. $21,800 deduction. d. $20,000 deduction. e. None of these choices are correct