Pinnacle deduct from its corporate taxable income

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Reference no: EM131487569

Pinnacle Productions, Inc. holds a luxury skybox season ticket at a local sporting arena. Pinnacle uses the skybox to entertain clients while holding business meetings. The cost of Pinnacle’s luxury skybox season ticket is $25,000; the cost of the most expensive non-luxury season ticket is $15,000. How much of the luxury skybox season ticket cost may Pinnacle deduct from its corporate taxable income?

Reference no: EM131487569

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