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Under IRC section 163(j), enacted as part of the Tax Cuts and Jobs Act of 2017, if, in 2020, Beta Corp. (a C corporation) realized
Under IRC section 163(j), enacted as part of the Tax Cuts and Jobs Act of 2017, if, in 2020, Beta Corp. (a C corporation) realized and recognized $8M of business interest income and earnings before interest, tax, depreciation and amortization ("EBITDA") equaled $900M (and assume that this $900M also constituted adjusted taxable income [ or "ATI"] as used in section 163), what is the limit of business interest expense that Beta Corp. could claim as a deduction for its 2020 federal income tax return?
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