Tyrone and Akira, who are married, incurred and paid the following amounts of interest during 2019:

 Home acquisition debt interest.................$15,000

 Credit card interest..........................................5,000

 Home equity loan interest..............................6,500

 (used for home improvement)

Investment interest expense........................10,000

With 2019 net investment income of $2,000, calculate the amount of their allowable deduction for investment interest expenseandtheir total deduction for allowable interest. Home acquisition principal, and the home equity loan principal combined are less than $750,000.