Rapids Corporation purchased a building last year (2019) for $10 million that it uses in its business. In order to make the purchase, Rapids needed to borrow $6 million and is paying the related interest expense. When preparing a draft of Rapids corporate income tax return, you note that it reported annual gross receipts in excess of $26 million in each of the previous three tax years. During the current 2020 year, Rapids reports taxable income of $50,000. This amount includes the recognition of $10,000 of interest income from investments, $200,000 of depreciation expense, and a tentative amount of $300,000 for interest expense. Show your calculation of the maximum business interest deduction that Rapids can recognize on its 2020 federal income tax return. Remember to take the CARES Act legislation into account.