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FruAgro Company has average annual gross receipts of $ 8 0 million annually. This year, FruAgro earned $ 3 million of business interest income, incurred

FruAgro Company has average annual gross receipts of $80 million annually. This year, FruAgro earned $3 million of business interest income, incurred $11 million of business interest expense and has adjusted taxable income of $24 million.
Required:
Compute FruAgros current deduction for business interest and the amount of any business interest carryforward.

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