George operates a business that generated revenues from services of $50 million in 2019 and reported deductible expenses other than interest of $49 million in 2019, which included depreciation expense of $500,000. The business paid interest expenses of $800,000 in 2019, none of which was for loans used to purchase tax-exempt investments.

What is the maximum business interest deduction that George will be eligible to claim this year? Use the most recent tax law (as modified by the CARES Act) and assume George's business is not eligible for the small business exception.

rev: 11_13_2019_QC_CS-190184

Multiple Choice

• $522,000

• $450,000

• $500,000

• $750,000

• $800,000