On December 15, 2016, Jacks Tax Prep, a cash - method taxpayer, prepaid $5,000 worth of deductible interest on a business loan. The interest accrued in 2017. In addition, Jacks Tax Prep incurred $2,000 in deductible repair expenses on December 28, 2016. Jack received the invoice on January 15, 2017, and he paid the $2,000 on January 29, 2017. How much of the $7,000 in deductible business expenses may Jacks Tax Prep deduct in 2016?