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Hover Company is a manufacturer of electric hoverboards. Hover is a calendar year, accrual basis taxpayer. Hover generally files their tax return by the original
Hover Company is a manufacturer of electric hoverboards. Hover is a calendar year, accrual basis taxpayer. Hover generally files their tax return by the original due date (4 1/2 months following the close of the tax year). In late February 2024, representatives of Hover ask for your assistance in determining the appropriate deduction for rebate expense. Hover is willing to elect the recurring item exception. All amounts are assumed to be "material". In addition to your numerical answer, please explain your reasoning
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