Business, 01.12.2020 16:50 fabiolafrancklin10

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 maximum business interest deduction that George will be eligible to claim this year? A) $375,000
B) $522,000
C) $1,500,000
D) $300,000
E) $228,000

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George operates a business that generated revenues of $50 million and allocable taxable income of $1...

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