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17 Required information Part 1 of 3 The following information applies to the questions displayed below] Renee operates a proprietorship selling collectibles over the web, and last year she purchased a building for $24 million for her business. This year, Renee's proprietorship reported revenue of $85 million and incurred total expenses of $78.1 million. Her expenses included cost of goods sold of $38 million, sales commissions paid of $16.9 milion, $10.5 million of interest paid on the building mortgage, and $12.7 milion of depreciation. 015 points eBook Print References a. What is Renee's adjusted taxable income for purposes of calculating the linitation on business interest expense? Adjusted Taxable trcone mllion Check my work 18 Required information The following information applies to the questions displayed below Part 2 of 3 Renee operates a proprietorship selling collectibles over the web, and last year she purchased a building for $24 million for her business. This year, Renee's proprietorship reported revenue of $85 million and incurred total expenses of $781 milton. Her expenses included cost of goods sold of $38 million, sales commissions paid of $16.9 million, $10.5 million milion of depreciation. 0.2 points f interest paid on the building mortgage, and $127 eBook Print References b. How much business interest expense can Renee deduct this year? million Check my work 19 Required information Part 3 of 3 The following information applies to the questions displayed below] Renee operates a proprietorship selling collectibles over the web, and last year she purchased a building for $24 million for her business. This year, Renee's proprietorship reported revenue of $85 million and incurred total expenses of $781 milion. Her expenses included cost of goods sold of $38 million, sales commissions paid of $16.9 million, $10.5 miltion of interest paid on the building mortgage, and $127 0.2 polnts million of depreciation eBook Print References c. Suppose that Renee's revenue includes $5 million of business interest income. What is the maximum amount of business interest expense that Renee can deduct this yeart Deductible Business Interest Expense mallion

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