1. George operates a business that generated revenues of $50 million and allocable taxable income of $1.25 million. Included in the computation of allocable taxable income were deductible expenses of $240,000 of business interest and $250,000 of depreciation. 
2. 
   
3. What is the business interest limitation that George will be subject to this year if the business does not qualify under the gross income test?