5. Jean borrowed $100,000 to acquire a parcel of land to be held for investment purposes and paid interest of $11,000 on the loan. She has AGI of $75,000 for the year. Other items related to Jeans investments include the following: Interest and annuity income $10,000 Long-term capital gain on sale of stock 7,500 Real estate tax paid and deducted on investment property 500 (A) Determine Jeans current investment interest deduction, assuming she does not make any special election regarding the computation of investment income. (B) Discuss the treatment of Jeans investment interest that is disallowed in the current year. (C) What election could Jean make to increase the amount of her current investment interest deduction?

(MAKE SURE TO ACCOUNT FOR THE TCJA CHANGES OF 2017 IF RELEVANT)