10. Office Palace, Inc., leased an all-in-one printer to a new customer, Ashley, on December 27, 2020. The printer was to rent for $700 per month for a period of 36 months beginning January 1, 2021. Ashley was required to pay the first and last months rent at the time the lease was signed. Ashley was also required to pay a $2,000 damage deposit. Office Palace must recognize as income for the lease:

a- $0 in 2020, if Office Palace is an accrual basis taxpayer

b- $3,400 in 2020, if Office Palace is a cash or accrual basis taxpayer

c- $1,400 in 2020 if Office Palace is a cash or accrual basis taxpayer

d- $1,200 in 2020

f- $8,400 in 2021, if Office Palace is a cash basis taxpayer