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(Solved): George operates a business that generated revenues of $58 million and allocable taxable income of $1 ...



George operates a business that generated revenues of $58 million and allocable taxable income of $1.33 million. Included in the computation of allocable taxable income were deductible expenses of $244,000 of business interest and $254,000 of depreciation. What is the business interest limitation that George will be subject to this year if the business does not qualify under the gross income test? The answer options are: $498000 $472200 $381000 $322800 $231800 I already know that answer $498000 is incorrect.



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