question archive FruAgro Company has average annual gross receipts of $30 million annually
FruAgro Company has average annual gross receipts of $30 million annually
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FruAgro Company has average annual gross receipts of $30 million annually. This year, FruAgro earned $1 million of business interest income, incurred $7 million of business interest expense and has adjusted taxable income of $ 17 million. Compute FruAgro's current deduction for business interest and the amount of any business interest carryforward.
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