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Jimmy owns a trucking business. During the current year he incurred the following: Gas and oil $100,000 Maintenance $15,000 Fines for Speeding $8,000 Bribes to

Jimmy owns a trucking business. During the current year he incurred the following: Gas and oil $100,000 Maintenance $15,000 Fines for Speeding $8,000 Bribes to government inspection officials $21,000 The fines for speeding were a necessary cost because missing deadlines would cause lost business and are ordinary in the industry. What is the total amount of deductible expenses?

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