On Dec. 15, 2019, Julie's Tax Prep, a cash-method taxpayer, prepaid $4,000 worth of deductible interest on a business loan. The interest won't accrue until January 2020. Julie's Tax Prep will be displaying for the first time at a trade show in July 2020. On Dec. 16, 2019, Julie's prepaid the $8,000 trade show booth rental expense. The payment isn't due until May 2020, and use of the booth will occur in July 2020. In addition, On Dec. 28, 2019, Ed's Equipment repaired some equipment in Julie's office and billed Julie's $2,000. Julie's received the invoice on Dec. 28, 2019 and paid the $2,000 invoice on Jan. 29, 2020. Question 3 0/0.2 pts In addition to the $14,000 in expenses, in Dec. 2019, Julie's 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 Julie's deduct in 2019? 24,000