Qualified Business Income Deduction and Net Business Interest Limitation. Charlene is an equal partner in the CD Partnership. The partnership does not qualify as a small business under the $25 million gross receipts test. The partnership incurred the following items for the current year. Ignore the deduction for one-half of self-employment tax. Gross receipts $ 30,000,000 Minus: Cost of goods sold (21,000,000) Gross profit $ 9,000,000 General business expenses 2,400,000 Salary expense (W-2 wages) 1,600,000 Depreciation expense 1,000,000 Interest expense 2,000,000 Charlene is married and files a joint tax return, has no other sources of income, and claims the standard deduction. Calculate the partnership's ordinary income for the cur- rent year and Charlene's taxable income