Janet and James purchased their personal residence 15 years ago for $277,500. For the current year, they have an $69,375 first mortgage on their home, on which they paid $3,469 in interest. They also have a home equity loan to pay for the children's college tuition secured by their home with a balance throughout the year of $110,000. They paid interest on the home equity loan of $11,000 for the year. Calculate the amount of their deduction for interest paid on qualified residence acquisition debt and qualified home equity debt for the current year.