2020 Enterprises, owned by Xio who also manages the businesses, has generated more than $25 million of sales f of the past five years. This year it is reporting the following income and deduction amounts: Xio just received a statement from the bank reporting interest expense of $1,800,000 on a loan to 2020 Enterprises fund operations and equipment purchases. How much of the interest expense can 2020 Enterprises deduct in co this year's taxable income?

Question

2020 Enterprises, owned by Xio who also manages the businesses, has generated more than $25 million of sales f of the past five years. This year it is reporting the following income and deduction amounts:  Xio just received a statement from the bank reporting interest expense of $1,800,000 on a loan to 2020 Enterprises fund operations and equipment purchases. How much of the interest expense can 2020 Enterprises deduct in co this year's taxable income?

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The Answer of 2020 Enterprises, owned by Xio who also manages the businesses, has generated more than $25 million of sales f of the past five years. This year it is reporting the following income and deduction amounts:  Xio just received a statement from the bank reporting interest expense of $1,800,000 on a loan to 2020 Enterprises fund operations and equipment purchases. How much of the interest expense can 2020 Enterprises deduct in co this year's taxable income?

2020 Enterprises, Owned by Xio Who Also Manages the Businesses