Matthew borrows $155,000 to invest in bonds. During the current year, his interest on the loan is $15,500. Matthew's taxable interest income from the bonds is $9,300. This is Matthew's only investment income.

a. Calculate Matthew's itemized deduction for investment interest expense for this year. $

b. Is Matthew entitled to a deduction (related to the investment interest expense) in future years? yes/no, the unused deduction of $ may/may not be carried forward as an investment interest deduction in future years.