A firm has the following taxable EBIT level: Taxable EBIT in…

A firm has the following taxable EBIT level: Taxable EBIT in 2023 = 1000   and  interest expense on debt paid = 500 Federal tax rate = 21%.   How much would the firm pay in federal taxes in 2023 given interest deduction caps that are 30% of EBIT    (not tax savings, taxes paid)