Disinterested Corporation is a C Corp but is not a car dealer. In 2018 it has a taxable income of $500,000 which includes taxable interest income of $25,000. The corporation did not own any municipal bonds. It has otherwise deductible interest expenses for the year of $200,000, depreciation expense of 25,000 and amortization expense of $22,000 all of which were subtracted in arriving at the $500,000 taxable income figure. For the last 3 years the corporation had gross receipts exceeding $30 million in each year. Assume the corporation makes no election as to the deductibility of interest expense.

a. Show the calculation of how much interest expense as the corporation could deduct for the current year.

b. If the taxable income for the year were $300,000 rather than $500,000 and all other facts remained the same how much interest expense could the corporation deduct for the year?

c. What if anything happens to any interest expense that could not be deducted?

d. If Disinterested was in the real estate business how if at all might the answers change?

e. If Disinterested's gross receipts did not exceed $20 million in any of the last three years how if at all might the answer change?