Shark Corporation purchases 8 tickets to the Super Bowl in February 2016 for entertaining its...
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Shark Corporation purchases 8 tickets to the Super Bowl in February 2016 for entertaining its customers. Due to unusually high demand, the tickets have to be purchased from scalpers for $10,600 (8x$1325). The face value of the tickets is only $1,800 (8x$225). What amount is deductible by Shark in 2016.
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