2n; PREPARE TAX DOCUMENTATION FDR INDIVIDUALS QUESTION 5.5 (Concession for pre-par'd' expenditure) Jon commenced business on 1 July 2021, operating a retail food outlet. His business meets the criteria for a small business entity and has supplied the following data: Total shop rental payments during 2021,!22 $300,000 ($20,000 per month) Balance of Rent Paid in Advance as at 30 June 2022 60.000 (3 months) Total insurance premium payments during 2021322 22.000 ($4.000 per month) Balance of Insurance Paid in Advance as at 30 June 2022 24,000 (6 months) Prepayment of 3 year equipment lease 360,000 ($10,000 per month} Balance of Lease Payments in Advance as at 30 June 2022 240.000 (24 months) Calculate Jon's deductions from the above transactions for the 2021122 tax year on the basis that he elects to apply the small business concession relating to prepayments