George operates a business that generated revenues of $59 million and allocable taxable income of...
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Accounting
George operates a business that generated revenues of $59 million and allocable taxable income of $1.34 million. Included in the computation of allocable taxable income were deductible expenses of $244,500 of business interest and $254,500 of depreciation. What is the maximum business interest deduction that George will be eligible to claim this year?
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