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Problem 9-28 (Algorithmic) (LO. 5) During 2022, Stork Associates paid $65,400 for a 20 -seat skybox at Veterans Stadium for eight professional football games. Regular
Problem 9-28 (Algorithmic) (LO. 5) During 2022, Stork Associates paid $65,400 for a 20 -seat skybox at Veterans Stadium for eight professional football games. Regular seats to these games range from $85 to $255 each. At one game, an employee of Stork entertained 18 clients. Stork furnished food and beverages for the event (provided by a local restaurant) at a cost of $2,400. The game was preceded by a bona fide business discussion, and all expenses are adequately substantiated. How much may Stork deduct for this event? $ x Feodback F Check My Work Many taxpayers attempt to deduct personal entertainment expenses as business expenses. For this reason, the tax law res deductibility of entertainment expenses
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