Problem 9-26 (Algorithmic) (LO. 3,5) In June of this year, Dr. and Mrs. Bret Spencer traveled to Denver to attend a three-day conference sponsored by the American Society of Implant Dentistry. Bret, a self-employed practicing oral surgeon, participated in scheduled technical sessions dealing with the latest developments in surgical procedures. On two days, Mrs. Spencer attended group meetings where various aspects of family tax planning were discussed. On the other day, she went sightseeing. Mrs. Spencer does not work for her husband, but she does their tax returns and handles the family investments. Expenses incurred in connection with the conference are summarized below. Airfare (two tickets) Lodging (single and double occupancy are the same rate-$265 each day) Meals ($330 x 3 days) Conference registration fee (includes $120 for Family Tax Planning sessions) Car rental *Split equally between Dr. and Mrs. Spencer. $2,000 795 990 660 If an amount is zero, enter "0". If required, round your interim calculations to nearest dollar. How much, if any, of these expenses can the Spencers deduct? Mrs. Spencer's activities do not constitute a trade or business. Therefore, she can deduct $ O of her expenses. Bret's deductible expenses are: Airfare (one ticket) 1,000 Lodging 495 x Calculator Print item How much, if any, of these expenses can the Spencers deduct? Mrs. Spencer's activities do not constitute a trade or business. Therefore, she can deduct sleep III O of her expenses. Bret's deductible expenses are: Airfare (one ticket) 1,000 Lodging 495 x Meals 585 Less: 50% limit 293 292 Registration fee 620 Car rental 345 Total 2,752 X