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Ajax Computer Company is an accrual method calendar year taxpayer. Ajax has never advertised in...

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Accounting

Ajax Computer Company is an accrual method calendar year taxpayer. Ajax has never advertised in the national media prior to this year. In November of this year, however, Ajax paid $1 million for television advertising time during a "super" sporting event scheduled to take place in early February of next year. In addition, in November of this year the company paid $500,000 for advertising time during a professional golf tournament which will occur once in April of next year. Neither of these payments qualify as recurring expenses. What amount of these payments, if any, can Ajax deduct this year?

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