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Which of the following is a deductible business expense for a legitimate trade or business? Question options: Interest expense on loans used to acquire tax
Which of the following is a deductible business expense for a legitimate trade or business?
Question options:
| Interest expense on loans used to acquire tax exempt municipal bonds |
| Legal fees incurred for defending against a charge of stealing a competitor's trade secrets. |
| Fines for illegal dumping of toxic waste |
| Political contributions to candidates favorable to industry positions. |
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