Ronald is a cash-method taxpayer who made the following expenditures this year. Which expenditure is completely deductible in this period as a business expense?

Group of answer choices

$4,000 for rent on his office, which covers the next 24 months.

$3,000 for a new watch for the mayor to keep "good relations" with city hall.

$2,500 for professional hockey tickets distributed to a customer to generate "goodwill" for his business.

$55 to collect an account receivable from a customer who has failed to pay for services rendered.

None of the choices are completely deductible.