Lewis and Laurie are married and jointly own a home valued at $$255,000.$ They recently paid off the mortgage on their home. The couple borrowed money from the local credit union in January of $2022.$ How much interest may the couple deduct in each of the following alternative situations? $($Assume they itemize deductions no matter the amount of interest.$)$

Note: Leave no answer blank. Enter zero if applicable.

Required:

a$)$ The couple borrows $$55,000,$ and the loan is secured by their home. The credit union calls the loan a "home equity loan." Lewis and Laurie use the loan proceeds for purposes unrelated to the home. The couple pays $$3100$ interest on the loan during the year and the couple files a joint return. What is the deductible interest expense?

b$)$ The couple borrows $$140,000,$ and the loan is secured by their home. The credit union calls the loan a "home equity loan." Lewis and Laurie use the loan proceeds to add a room to their home. The couple pays $$5950$ interest on the loan during the year and the couple files a joint return. What is the deductible interest expense?