In 2020, Malone and Co., a C Corporation, has $2,500,000 in adjusted taxable income, $50,000 if business interest income, no floor plan financing and $900,000 of business interest expense. How much business interest expense can Malone deduct in 2020? (Assume TCJA rules apply and the corporation has average gross receipts greater than $26 million).

Please answer with good explanation. Thx