47. Indicate the amount (if any) that Josh can deduct as an ordinary and necessary business deduction in each of the following situations and explain your solution. a) Josh borrowed $50,000 from the First State Bank using his business assets as collateral. He used the money to buy City of Blanksville bonds. Over the course of a year, Josh paid interest of $4,200 on the borrowed funds, but he received $3,500 of interest on the bonds. b) Josh purchased a piece of land for $45,000 in order to get a location to expand his business. He also paid $3,200 to construct a new driveway for access to the property. c) This year Josh paid $15,000 to employ the mayor's son in the business. Josh would typically pay an employee with these responsibilities about $10,000, but the mayor assured Josh that after his son was hired, some city business would be coming his way. d) Josh paid his brother, a mechanic, $3,000 to install a robotic machine for Josh's business. The amount he paid to his brother is comparable to what he would have paid to an unrelated person to do the same work. Once the installation was completed by his brother, Josh began calibrating the machine for operation. However, by the end of the year, he had not started using the machine in his business. 48. Armelio operates a business that acts as a sales representative for firms that produce and sell precious metals to electronic manufacturers. Armelio contacts manufacturers and convinces them to sign contracts for delivery of metals. Armelio's company earns a commission on the sales. This year, Armelio contacted a jeweler to engrave small lapel buttons for each client. Armelio paid $20 each for the lapel buttons, and the jeweler charged Armelio an additional $7 for engraving. The electronic manufacturers, however, prohibit their employees from accepting gifts related to sales contracts. Can Armelio deduct the cost of the lapel buttons as business gifts