Exercise 6-29 (Algorithmic) (LO. 3) Vella owns and operates an illegal gambling establishment. In connection with this activity, he has the following expenses during the year: Rent Bribes Travel expenses Utilities Wages Payroll taxes Property insurance Illegal kickbacks $42,000 63,000 4,200 25,200 375,500 21,000 2,100 37,800 Vella's total deductible expenses for tax purposes are