George Operates a Business That Generated Revenues of $50 Million

question 73

Multiple Choice

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)$522,200
• C)$1,500,000
• D)$300,000
• E)$228,000

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Pertaining to or affecting all people or things in the world or in a particular group; applicable to all cases.

Amygdala

A structure in the limbic system that plays an important role in emotion, particularly in response to unpleasant or punishing stimuli.

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The physical arrangement and organization of neurons and neural networks within the brain, including regions responsible for processing different types of information.