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George operates a business that generated revenues of $50 million and allocable taxable income of $1.25 million. Included in the computation of allocable taxable income were deductible expenses of $240,000 of business interest and $250,000 of depreciation. What is the business interest limitation that George will be subject to this year if the business does not qualify under the gross income test? a) $490,000 b) $447,000 c) $375,000 d) $300,000 e) $228,000
Sagot :
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