Business, 07.10.2019 17:10 admierewebb

In 2019, nighthawk corporation, a calendar year c corporation, has $3,700,000 of adjusted taxable income and $125,000 of business interest income. nighthawk has no floor plan financing interest. the business interest expense is $1,400,000 for the year. a. assume that nighthawk has average gross receipts for the prior three-year period of $33,000,000. determine nighthawk's current-year deduction for business interest.

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In 2019, nighthawk corporation, a calendar year c corporation, has $3,700,000 of adjusted taxable in...

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