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PDQ, Inc., a calendar-year company, paid $15,000 as a prepayment of two years of its liability insurance on November 1 of the current year. How

PDQ, Inc., a calendar-year company, paid $15,000 as a prepayment of two years of its liability insurance on November 1 of the current year. How much insurance expense can PDQ deduct on its current year income tax return?

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