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Shark corporation purchases 6 tickets to the Super Bowl in February 2021 for entertaining its customers. Due to unusually high demand, the tickets have to
Shark corporation purchases 6 tickets to the Super Bowl in February 2021 for entertaining its customers. Due to unusually high demand, the tickets have to be purchased for $15150 (6x$2525). The face value of the tickets is only $1950 (6x$325). The $2525 cost per ticket includes a $550 charge for food and beverages and is separately stated on the invoice. What amount is deductible by in 2021? (Assume the cost of the food and beverages is not lavish or extravagant.)
The amount that is deductible by Shark in 2021 is _____
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