! Required information [The following information applies to the questions displayed below.] Renee operates a proprietorship selling collectibles over the Web, and last year she purchased a building for $24 million for her business. This year, Renee's proprietorship reported revenue of $95.5 million and incurred total expenses of $88.6 million. Her expenses included cost of goods sold of $48.5 million, sales commissions paid of $16.9 million, $10.5 million of interest paid on the building mortgage, and $12.7 million of depreciation. a. What is Renee's adjusted taxable income for purposes of calculating the limitation on business interest expense? (Do not round intermediate calculations. Enter your answer in millions of dollar rounded to 1 decimal place.) Adjusted Taxable Income million b-1. What is the maximum amount of business interest expense that Renee can deduct this year? (Do not round intermediate calculations. Enter your answer in millions of dollar rounded to 2 decimal place.) Deductible Business Interest Expense million b-2. How is the disallowed interest expense (if any) treated? Interest disallowed would be: carried forward. O not deductible in any subsequent year. c. Suppose that Renee's revenue includes $5 million of business interest income. What is the maximum amount of business interest expense that could be deducted this year under the business interest limitation? (Do not round intermediate calculations. Enter your answer in millions of dollar rounded to 2 decimal place.) Deductible Business Interest Expense million