Group term insurance premiums paid on $10,000 life insurance policies for each of Ral's four employees (the employees' spouses are the beneficiaries) Amortization of cost of acquiring a perpetual dealer's franchise (Ral paid $48,000 for this franchise on July 1, Year 1, and is amortizing it over a 48-month period) 4,000 6,000 Contribution to a qualified charity (this contribution was authorized 75,000 by Ral's board of directors in December Year 1, to be paid on January 31, Year 2) On December 1, Year 1, Ral received advance rental of $27,000 from a tenant for a three-year lease commencing January 1, Year 2 to cover rents for Year 2, Year 3, and Year 4. In conformity with GAAP, Ral did not include any part of this rental in its income statement for the year ended December 31, Year 1. With regard to Ral's contribution to the qualified charity, Ral: O A. Can elect to deduct in its Year 1 return any portion of the $75,000 that does not exceed the deduction limitation for Year 1. B. Cannot deduct any portion of the $75,000 in Year 1 because the contribution was not paid in Year 1. C. D. Can deduct the entire $75,000 in its Year 1 return because Ral reports on the accrual basis. Can elect to carry forward indefinitely any portion of the $75,000 not deducted in Year 1 or Year 2.