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Torpedo Corporation purchases 8 tickets to the Super Bowl in February 2016 for entertaining its customers. Due to unusually high demand, the tickets hove to

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Torpedo Corporation purchases 8 tickets to the Super Bowl in February 2016 for entertaining its customers. Due to unusually high demand, the tickets hove to be purchased from scalpers for $10, 200 (8 times $1, 275). The face value of the tickets is only $2, 200 (8 times $275). What amount is deductible by Torpedo in 2016? Torpedo may deduct $

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