For the last 3 years, the JCR corporation has averaged annual gross receipts of $27 million. This
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For the last 3 years, the JCR corporation has averaged annual gross receipts of $27 million. This year, JCR has EBITDA of $6,000,000, and it has incurred $2,100,000 in business interest expense. What can JCR deduct as business interest in the current year?
Assume that in the following year, JCR has EBITDA of $7,000,000, and it has incurred $1,500,000 in business interest expense. What can JCR deduct as business interest?
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Related Book For
Concepts In Federal Taxation 2021
ISBN: 9780357141212
28th Edition
Authors: Kevin E. Murphy, Mark Higgins, Randy Skalberg
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