Tyrone and Akira, who are married, incurred and paid the following amounts of interest during 2016:

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

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

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

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

With 2016 net investment income of $2,000, calculate the amount of their allowable deduction for investment interest expense and their total deduction for allowable interest. Home acquisition principal is less than $1,000,000, and the home equity loan principal is less than $100,000.