Eddie, a calendar-year taxpayer, uses the cash method of accounting for his sole proprietorship. In late December he received a $10,000 bill from his accountant for consulting services related to his small business. Eddie can pay the $10,000 bill any time before January 30 of next year without penalty. Assume his marginal tax rate is 40 percent this year and 25% next year, and that he can earn an after- tax rate of return of 12 percent on his investments. Eddie should: None of the choices are correct. Pay the bill in January because the present value of the after tax expenditure is lower. Pay the bill in December because the present value of the after tax expenditure is higher. Pay the bill in January because the present value of the after tax expenditure is lower. Pay the bill in December because the present value of the after tax expenditure is lower