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Exercise 6-26 (LO. 2) Shanna, a calendar year and cash basis taxpayer, rents property to be used in her business from Janice. As part of
Exercise 6-26 (LO. 2) Shanna, a calendar year and cash basis taxpayer, rents property to be used in her business from Janice. As part of the rental agreement, Shanna pays $8,400 rent on April 1, 2019 for the 12 months ending March 31, 2020. Do not round any division. a. How much is Shanna's deduction for rent expense in 2019? $ 0 X b. Assume the same facts, except that the $8,400 is for 24 months' rent ending March 31, 2021. How much is Shanna's deduction for rent expense in 2019? 0 x
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