Sera is a small business owner who often gives gifts to clie…
Sera is a small business owner who often gives gifts to clients. She gives a $40 gift to a client and their spouse. Sera spent $6 to wrap the gift. She also gave out 400 calendars with her company name on them. Each calendar cost $1. Sera also gave her secretary a $370 watch for their 10 years of service. How much of the above expenses may she deduct?
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