Incorrect Question 5 0 / 0.5 pts On Dec. 15, 2020, Julia's Service Station, an accrual-method taxpayer, prepaid $2,000 worth of deductible interest on a business loan. The interest won't accrue until 2021 Julia's Service Station will be displaying for the first time at a trade show in July 2021. On Dec. 16, 2020, Julia's prepaid the $8,000 trade show booth rental expense. The payment isn't due until May 2021, and use of the booth will occur in July 2021. In addition, On Dec. 28, 2020, Ed's Equipment repaired some equipment in Julia's business and billed Julia's $4,000. Julia's received the invoice on Dec. 28, 2020 and paid the $4,000 invoice on Jan. 29, 2021. How much of the $14,000 in deductible business expenses may Julia's Service Station deduct in 2020? 10,000 Unanswered Question 6 0 / 0.2 pts In 2020, Perry, who is not otherwise involved in the gas station business, spends $53,000 investigating the acquisition of a gas station. All costs are ordinary and necessary. Perry decides not to acquire the gas station. What amount can Perry deduct in 2020 for the expenses incurred in investigating the acquisition of the gas station if Perry makes an election to accelerate his deductions as much as possible