Bass Corporation purchases 10 tickets to the Super Bowl in January 2013 for entertaining its customers. Due

Question:

Bass purchases 10 tickets to the Super Bowl in January 2013 for entertaining its customers. Due to unusually high demand, the tickets have to be purchased from scalpers for $15,000 (10 × $1,500). The of the tickets is only $2,000 (10 × $200). What amount is deductible by Bass in 2013?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...