Question
In 2023, Tanga Corp., has $9,867,113 adjusted taxable income, $1,808,871 business interest income, and $8,000,000 business interest expense. Tanga Corp. has average gross receipts
In 2023, Tanga Corp., has $9,867,113 adjusted taxable income, $1,808,871 business interest income, and $8,000,000 business interest expense. Tanga Corp. has average gross receipts for the prior three-year period of $50,000,0000 (not a small corporation). What is Tanga Corp.'s 2023 deduction for business interest? Enter your answer as a positive number rounded to the nearest whole dollar. Type your answer...
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Get StartedRecommended Textbook for
South-Western Federal Taxation 2019 Comprehensive
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
42th Edition
1337702544, 978-1337702546, 133770301X, 978-1337703017
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