Insurance, Taxes, and Legal Fees (LO. 6) KOM pays the following insurance premiums during 2017: Auto accident and liability insurance: Paid 1/1/17 Coverage period 1/1/17-12/31/17$3,50o Fire, storm, and other casuaity insurance: Paid 4/1/17 Coverage period 4/1/17-3/31/19 $5,000 Business liability insurance (does not meet the recurring item exception to the economic performance test): Paid 5/1/17 Coverage period 5/1/17-4/30/18 $3,000 Complete the below statement. Do not round intermediate calculations. a. If KOM uses the accrual method of accounting, the insurance expense deduction for 2017 is $ b. If KOM uses the cash method of accounting, the insurance expense deduction for 2017 is s