Bugs Bunny, Inc., an exterminating company, is an accrual basis calendar year taxpayer. It contracts to provide service to homeowners once a month under a twelve month contract. For financial reporting purposes, Bugs Bunny, Inc. reports the income ratably over the 12 months of the contract. On April 1 of the current year, the company sold a customer a one-year contract for $120. How much of the $120 is taxable in the current and subsequent years?