QUESTION 16 CCL is an accrual-method calendar-year corporation. This year CCL made the following payments: (1) $480 to a bank for 12 months of interest accruing on a business loan from September 1 of this year through August 31 of next year: (2) $600 for a 15-month insurance policy beginning on July 1 of this year. How much of these business expenses can CCL deduct this year (ignoring the business interest expense limitation)? O a. a. 480 Ob. 360 c. 760 d. 400 Oe. 600