Nicholas Wanted to Take an Important Customer to a Hockey

question 4

Multiple Choice

Nicholas wanted to take an important customer to a hockey game.Although the face value of a ticket was only $50,the only way he could get tickets was by paying a scalper $160 for each ticket.Assuming all other deductibility requirements are met,how much will Nicholas be able to deduct for each ticket?

• A)$0
• B)$25
• C)$50
• D)$80
• E)$160

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