Question: calculate tje allowed interest expense deduction under IRC 163J based on the following income statement: gross sales $35000000 , cost of goods sold $22000000 ,

calculate tje allowed interest expense deduction under IRC 163J based on the following income statement: gross sales $35000000 , cost of goods sold $22000000 , Gross profit $13000000, intereste expense regular $ 5000000 , taxable income before 163J limit $3890000

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