In November 2018, John Hansen, CPA, billed a client for $4,500 for professional services. Hansen reports on the cash basis. No part of the $4,500 was ever paid. In November 2019, the client declared bankruptcy, and the $4,500 obligation became totally uncollectible. What loss can Hansen deduct on his 2019 tax return for this bad debt? Select one: a. $500 b. $4,500 X C. $0 d. $3,500 The correct answer is: $0