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Northwest Company has average gross receipts of $50 million annually. This year, Northwest incurred $15.5 million of net business interest and has adjusted taxable income

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Northwest Company has average gross receipts of $50 million annually. This year, Northwest incurred $15.5 million of net business interest and has adjusted taxable income of $29 million. Required: Compute Northwest's current deduction for business interest and the amount of any business interest carryforward. (The CARES Act applies. Enter your answers in dollars not in millions of dollars.) Amount Business interest deduction Business interest carryforward

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