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On January 1, 2019, Acme Corporation signs a 10-year franchise agreement with M&M Bagles. Acme (the franchisee) is required to make payments of $5,000 per

On January 1, 2019, Acme Corporation signs a 10-year franchise agreement with M&M Bagles. Acme (the franchisee) is required to make payments of $5,000 per year for the first 8 years of the franchise agreement. How much does Acme Corporation deduct on its 2019 tax return for franchise fees (rounded to the nearest dollar)?

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