Exercise 17-21 (LO. 1) In 2019, Nighthawk Corporation, a calendar year C corporation, has $3,700,000 of adjusted taxable income and $125,000 of business Interest income. Nighthawk has no floor plan financing interest. The business interest expense is $1,400,000 for the year. a. Assume that Nighthawk has average gross receipts for the prior three-year period of $33,000,000. Determine Nighthawk's current-year deduction for business interest. b. Assume that Nighthawk has average gross receipts for the prior three-year period of $23,000,000 Determine Nighthawk's current-year deduction for business interest