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The following facts pertain to Catchall Consulting, a sole proprietorship owned by Peabody: 20X09 net profit or (loss): ($ 5,000) 20X10 net profit or (loss):

The following facts pertain to Catchall Consulting, a sole proprietorship owned by Peabody:

20X09 net profit or (loss):

($ 5,000)

20X10 net profit or (loss):

$ 250

20X11 net profit or (loss):

$ 500

20X12 net profit or (loss):

($ 1,200)

20X13 net profit or (loss):

$ 800

In 20X14 Peabody gave out 50 promotional clipboards to prospective clients, at a cost of $3 per clipboard. What amount of business expense can Peabody include, as a result of the clipboards, on Peabodys 20X14 Schedule C?

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