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Exercise 6-28 (Algorithmic) (LO. 2) Meghan, a calendar year taxpayer, is the owner of a sole proprietorship that uses the cash method. On February 1,

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Exercise 6-28 (Algorithmic) (LO. 2) Meghan, a calendar year taxpayer, is the owner of a sole proprietorship that uses the cash method. On February 1, 2020, she leases an office building to use in her business for $148,800 for an 18-month period. To obtain this favorable lease rate, she pays the $148,800 at the inception of the lease. How much rent expense may Meghan deduct on her 2020 tax return? Round any calculations to two decimal places and round the final answer to the nearest dollar

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