Oscar Cinema Studios rewards its retiring officers with miniature gold statuettes if the officers complete at least 10 years of service. Each statuette costs Oscar $400 and is worth $600. Rank-and-file employees receive plastic replicas of the studio’s back lot when they retire and have completed 30 years of devoted service. These plastic replicas cost $50 a piece and are each worth $70. In the current year, Oscar gave two retiring officers each a miniature statuette during a meaningful presentation. How much can Oscar deduct for these gifts?