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On July 1, a company paid the $5,880 premium on a one-year insurance policy with benefits beginning on that date. What will be the insurance

On July 1, a company paid the $5,880 premium on a one-year insurance policy with benefits beginning on that date. What will be the insurance expense on the annual income statement for the current year ended December 31?

A.) $1,470.

B.) $4,410.

C.) $5,880.

D.) $2,450.

E.) $2,940.

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