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Can you show your work please? On September 1, 2021, Sancho signed an $18,000 one-year, 3% business loan. Sancho uses the cash method for tax

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Can you show your work please?

On September 1, 2021, Sancho signed an $18,000 one-year, 3% business loan. Sancho uses the cash method for tax reporting and loan interest is calculated monthly. If Sancho pays $540 interest on December 31, 2021, a valid deduction amount is: a. $180 in 2021 b. $540 in 2022 C. $0 in 2021 d. $360 in 2021

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