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Exercise 9-18 (Algorithmic) (LO. 5) In 2020, the CEO of Crimson, Inc., entertains 15 clients...

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Exercise 9-18 (Algorithmic) (LO. 5) In 2020, the CEO of Crimson, Inc., entertains 15 clients at a skybox in Memorial Stadium for a single athletic event during the year. Substantive business discussions occurred at various times during the event. The box cost $8,700 per event and seats 17 people. (The cost of a regular, nonluxury box seat at Memorial ranges from $85 to $170.) Refreshments served during the event cost $1,870 (and were separately itemized on the bill Crimson received). How much of these costs may Crimson deduct? 5,285 X $4,284 Exercise 9-20 (Algorithmic) (L0.5) Cindy, who is self-employed, maintains an office in her home that comprises 24% (210 square feet) of total floor space. Gross income for her business is $47,900, and her residence expenses are as follows: Real property taxes Interest on mortgage 7,140 Operating expenses Depreciation (based on 24% business use) 4,235 If required, round your final answer to the nearest dollar. a. What is Cindy's office in the home deduction based on the regular method? $ 3,570 b. What is Cindy's office in the home deduction based on the simplified method? $

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