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Flip's Pizzeria Inc. has the following financial items for the current year: Adjusted Taxable Income before Interest $48,700,000 Business Interest Income $800,000 Interest Expense $16,200,000

Flip's Pizzeria Inc. has the following financial items for the current year:

Adjusted Taxable Income before Interest $48,700,000

Business Interest Income $800,000

Interest Expense $16,200,000

How much interest expense can Flip deduct in the current year?

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