George operates a business that generated revenues of $67 million and allocable taxable income of $1.42 million. Included in the computation of allocable taxable income were deductible expenses of $248,500 of business interest and $258,500 of depreciation. What is the maximum business interest deduction that George will be eligible to claim this year?

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. ( t or f)

Because the demand for wheat tends to be inelastic. true or false

You are the cfo of a u. s. firm whose wholly owned subsidiary in mexico manufactures component parts for your u. s. assembly operations. the subsidiary has been financed by bank borrowings in the united states. one of your analysts told you that the mexican peso is expected to depreciate by 30 percent against the dollar on the foreign exchange markets over the next year. what actions, if any, should you take