Bass Corporation purchases 10 tickets to the Super Bowl in February 2022 for entertaining its...
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Bass Corporation purchases 10 tickets to the Super Bowl in February 2022 for entertaining its customers. Due to unusually high demand, the tickets have to be purchased for $25,000 (10 : $2,500). The face value of the tickets is only $2,000 (10 : $200). The $2,500 cost per ticket includes a $500 charge for food and bever-ages and is separately stated on the invoice. What amount is deductible by Bass in 2022?
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