Joe is a single, self-employed individual who owns his own business. During 2020, Joe reported $200,000 gross income and $60,000 of busi- ness expenses. He also paid $30,000 in alimony (divorced in 2017) to his former spouse, $4,000 mortgage interest on his personal home, $6,000 for health insurance premiums, and $2,000 for medi- cine and doctors. Ignoring any self-employment tax on the business income, what is Joe's AGI? Business Investigation Expenditures. Assume the same facts as in Problem 1:6-40, except that Big Bang LLC incurs $51,000 in expenses, and it does not already own the other entertainment galleries and it does not own anything similar. a. What is the proper tax treatment of these expenses if Big Bang does not open the new gallery? b. What is the proper tax treatment of these expenses if Big Bang decides to open the new gallery on May 1 of the current year and makes the appropriate election under Sec. 195