Manny, a calendar$-$year taxpayer, uses the cash method of accounting for his sole proprietorship. In late December he performed $$20,000$ of legal services for a client. Manny typically requires his clients to pay his bills immediately upon receipt. Assume Manny$$s marginal tax rate is $37$ percent this year and next year, and that he can earn an after$-$tax rate of return of $12$ percent on his investments.