Question: Sherry donates $ 5 , 0 0 0 to the university in exchange for the right to purchase tickets for the upcoming football season. How

Sherry donates $5,000 to the university in exchange for the right to purchase tickets for the upcoming football season. How should she treat the contribution?A deduction is not allowed.She must limit the deduction to 50% of the cost.She may deduct $5,000 as a charitable contribution.She may deduct $5,000 as a business expense.

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