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The CEO of Crimson, Inc., entertains 17 clients at a skybox in Memorial Stadium for an athletic event. The box cost $9,350 per event and
The CEO of Crimson, Inc., entertains 17 clients at a skybox in Memorial Stadium for an athletic event. The box cost $9,350 per event and seats 19 people. (The cost of a regular, nonluxury box seat at Memorial ranges from $65 to $130.) Refreshments served during the event cost $1,130. How much of these costs may Crimson deduct? If required, round your answer to the nearest dollar. (United States Tax Law)
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