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George operates a business that generated revenues of $68 million and allocable taxable income of $1.43 million. Included in the computation of allocable taxable income
George operates a business that generated revenues of $68 million and allocable taxable income of $1.43 million. Included in the computation of allocable taxable income were deductible expenses of $249,000 of business interest and $259,000 of depreciation. What is the maximum business interest deduction that George will be eligible to claim this year?
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