ACT Financial Management, Inc. established a tuition reimbursement plan for its employees in 2017. Under the terms of the plan, only grades of B or above are eligible for reimbursement. The plan also provides that employees seeking reimbursement must fill out an application for reimbursement and certification of grade in order to be eligible. ACT timely filed its 2021 tax return pursuant to a valid extension on September 15, 2022. Between January 1, 2022 and September 15, 2022, ACT processed $125,000 of reimbursement requests relating to courses successfully completed in 2021, but which were submitted and certified after December 31, 2021. What amounts, if any, of the items set forth above might ACT properly deduct on its 2021 tax return if it desired to maximize its 2021 deductions? Fully explain your