Doug and Sue Click File a Joint Tax Return and Decide

Multiple Choice

Doug and Sue Click file a joint tax return and decide to itemize their deductions. The Click's income for the year consists of $90,000 in salary, $2,000 interest income, $800 long-term capital loss. The Click's expenses for the year consist of $1,500 investment interest expense. Assuming that the Click's marginal tax rate is 35%, what is the amount of their investment interest expense deduction for the year?

A) $1,200
B) $1,500
C) $2,000
D) $2,300
E) None of these