George operates a business that in 2020 generated revenues of $50 million and allocable taxable income of $680,000. Included in the computation of allocable taxable income were$906,000 of business interest expense, $26,000 of business interest income, and $899,000 of depreciation. What is the maximum business interest deduction that George will be eligible to claim this year?
A) $204,000
B) $141,000
C) $199,000
D) $899,000
E) $949,000
Correct Answer:
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