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2 FruAgro Company has average annual gross receipts of $38 million annually. This year, FruAgro earned $3 million of business interest income, incurred $8 million
2 FruAgro Company has average annual gross receipts of $38 million annually. This year, FruAgro earned $3 million of business interest income, incurred $8 million of business interest expense and has adjusted taxable income of $9 million. ats Required: Compute FruAgro's current deduction for business interest and the amount of any business interest carryforward. (Enter your answers in dollars not in millions of dollars.) 01:16:53 Answer is complete but not entirely correct. Business interest deduction Business interest carryforward Amount $ 2,700,000 X $ 5,300,000 >
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