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Required information Problem 9-59 (LO 9-5) [The following information applies to the questions displayed below.] In January of year 0, Justin paid $9,200 for an
Required information Problem 9-59 (LO 9-5) [The following information applies to the questions displayed below.] In January of year 0, Justin paid $9,200 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. What amount of the insurance premium may Justin deduct in year O in each of the following alternative scenarios? (Leave no answers blank. Enter zero if applicable.) Problem 9-59 Part-c c. Justin pays $10,400 for a 24-month policy that covers the business from April 1, year 0, through March 31. year 2. (Do not round intermediate calculations.) Deductible amount
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