Vella owns and operates an illegal gambling establishment. In connection with this activity, he has the following expenses during the year:
Rent $24,000
Bribes $40,000
Travel Expense $ 4,000
Utilities $18,000
Wages $230,000
Payroll Taxes $13,800
Property Insurance $1,600
Illegal kickbacks $22,000
What are Vella's total deductible expenses for tax purposes?