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What amount can tony deduct

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Problem 1: Tony operates an illegal sports betting enterprise out of his Italian restaurant. Considering only the following expenses paid this year, what amount can Tony deduct?

Building rent = $24,000
Utilities = $12,000
Payments to off-duty policemen to provide security = $20,000
Bribes to health inspectors = $40,000

a. $96,000

b. $76,000

c. $56,000

d. $36,000

e. $0

Reference no: EM132843599

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