Charley Inc is a large corporation that reported revenue of $80 million and income of $620,000 in 2020. Included in the calculation of income was $10,000 of interest income, depreciation deductions of $170,000, and interest expense deductions of $420,000. What is the maximum amount of interest expense deduction this year?

a. $1,200,000

b. $610,000

c. $10,000

d. $366,000

e. $360,000