Answer:
Deductible expense = $2,275
Explanation:
given data
Airfare expenses = $400
meals expenses = $150
lodging expenses = $300
to find out
Fred’s deductible expenses
solution
Fred's Deductible expense are here
as we know that Airfare are $400
so meal are for 5 five is
Meals = 5 days × $150 × 50% = $375
and Lodging for 5 days is
Lodging = 5 days × $300 = $1,500
so here Deductible expense are
Deductible expense =Airfare + meals + Lodging
Deductible expense = $400 + $375 + $1,500
Deductible expense = $2,275
