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Question 2 (6 Points) Andersen Corporation, a calendar year, accrual method, C-Corporation, is in the business of manufacturing glass based products. In 2019, Andersen Corporation

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Question 2 (6 Points) Andersen Corporation, a calendar year, accrual method, C-Corporation, is in the business of manufacturing glass based products. In 2019, Andersen Corporation had taxable income before any limitations of $500.000. Andersen Corporation's had average annual gross receipts over the previous three tax years of $29,000,000. The following items of income and deductions are included in the computation of taxable income $400,000 business interest expense $250,000 depreciation $30,000 business interest income $75,000 amortization $100,000 research and development expenses $200,000 executive compensation (5 points) Given the information above, how much interest expense can Andersen Corporation deduct in 2019? (1 points) How would your answer change if Andersen Corporation had average annual gross receipts of $23,000,000 over the previous three years

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