Under the gross income test?
Multiple Choice
$396,000
$231,500
$319,950
$497,000
$469,050
George operates a business that generated revenues of $57 million and allocable taxable income of $1.32 million. Included in the computation of allocable taxable income were deductible expenses of $243,500 of business interest and $253,500 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?
Multiple Choice
$396,000
$231,500
$319,950
$497,000
$469,050