On Dec. 15, 2019, Julies Tax Prep, a cash-method taxpayer, prepaid $4,000 worth ofdeductible interest on a business loan. The interest wont accrue until January 2020.Julies Tax Prep will be displaying for the first time at a trade show in July 2020. On Dec.16, 2019, Julies prepaid the $8,000 trade show booth rental expense. The payment isntdue until May 2020, and use of the booth will occur in July 2020.In addition, On Dec. 28, 2019, Eds Equipment repaired some equipment in Julies officeand billed Julies $2,000. Julies received the invoice on Dec. 28, 2019 and paid the$2,000 invoice on Jan. 29, 2020.

In addition to the $14,000 in expenses, in Dec. 2019, Julies Tax Prep paid two years

worth of office rent ($1,000/month * 24 months = $24,000). The rent covers Dec. 1, 2019

through Nov. 30, 2021. How much of the $24,000 rent can Julies deduct in 2019?