Ramon incurred $83,100 of interest expense related to his investments in 2011. His investment illcome included $34,500 of interest and a $37,500 net capital gain on the sale of securities. What is the maximum amount of Ramon's investment interest expense deduction in 2011?
a. $19,500.
b. $34,500.
c. $72,000.
d. $83,100.
e. None of the above.