Stanford owns and operates two dry cleaning businesses. He travels to Boston to discuss acquiring a restaurant. Later in the month, he travels to New York to discuss acquiring a bakery. Stanford does not acquire the restaurant but does purchase the bakery on November 1, 2017. Stanford incurred the following expenses:
Total investigation costs related to the restaurant .......................... $28,000
Total investigation costs related to the bakery ............................... 51,000
What is the maximum amount Stanford can deduct in 2017 for investigation expenses?