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Details Pls Required information [The following information applies to the questions displayed below In January of year O, Justin paid $6,400 for an insurance policy

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Details Pls
Required information [The following information applies to the questions displayed below In January of year O, Justin paid $6,400 for an insurance policy that covers his business property for accidents and casualties. Justin is a calendar-year taxpayer who uses the cash method of accounting. What amount of the insurance premium may Justin deduct in year O in each of the following alternative scenarios? (Leave no answers blank. Enter zero if applicable.) a. The policy covers the business property from April 1 of year 0 through March 31 of year 1 Answer is complete and correct. amount $6,400 b. The policy begins on February 1 of year 1 and extends through January 31 of year 2. c. Justin pays $7600 for a 24-month policy that covers the business from April 1, year 0, through March 31, year 2. (Do not round intermediate calculations.) Answer is complete and correct. 2.850

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