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Toro Inc. has average gross receipts of $30 million annually. In 2020, Toro incurred $5 million of net business interest expense and has adjusted taxable
Toro Inc. has average gross receipts of $30 million annually. In 2020, Toro incurred $5 million of net business interest expense and has adjusted taxable income of $10 million. Under the CARES Act, Toro's current deduction for business interest is limited to $3 million. True False
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