FruAgro Company has average annual gross receipts of $$30$ million annually. This year, FruAgro earned $$1$ million of business interest income, incurred $$7$ million of business interest expense and has adjusted taxable income of $$17$ million.

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.$)$