Required information [The following information applies to the questions displayed below) In January of year o, Justin paid $4,800 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. What amount of the insurance premium may Justin deduct in year in each of the following alternative scenarios? (Leave no answers blank. Enter zero if applicable) a. The policy covers the business property from April 1 of year o through March 31 of year 1. Deductible amount Required information [The following information applies to the questions displayed below.) In January of year o, Justin paid $4,800 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, What amount of the insurance premium may Justin deduct in year in each of the following alternative scenarios? (Leave no answers blank. Enter zero if applicable.) b. The policy begins on February 1 of year 1 and extends through January 31 of year 2. Deductible amount Required information (The following information applies to the questions displayed below.) In January of year 0, Justin paid $4,800 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. What amount of the insurance premium may Justin deduct in year in each of the following alternative scenarios? (Leave no answers blank. Enter zero if applicable.) c. Justin pays $6,000 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