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PLEASE answer : QUESTION 7 A In January of year 0, Justin paid $5,800 for an insurance policy that covers his business property for accidents

PLEASE answer :

QUESTION 7 A

In January of year 0, Justin paid $5,800 for an insurance policy that covers his business property for accidents and casualties. Justin is a calendar-year taxpayer who uses the cash method of accounting. The policy covers the business property from April 1 of year 0 through March 31 of year 1. What amount of the insurance premium may Justin deduct in year 0?

1 points

QUESTION 8 B

In January of year 0, Justin paid $5,800 for an insurance policy that covers his business property for accidents and casualties. Justin is a calendar-year taxpayer who uses the cash method of accounting. The policy begins on February 1 of year 1 and extends through January 31 of year 2. What amount of the insurance premium may Justin deduct in year 0?

QUESTION 9 C

In January of year 0, Justin paid $8,000 for an insurance policy that covers his business property for accidents and casualties. Justin is a calendar-year taxpayer who uses the cash method of accounting. Assume the insurance policy is for a 24-month period from April 1, year 0 through March 31, year 2. What amount of the insurance premium may Justin deduct in year 0?

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