Required information [The following information applies to the questions displayed below! On November 1 of this year, Jaxon borrowed $36,000 from Bucksnort Savings and Loan for use in his business. In December, Jaxon paid interest of $3,240 relating to the 12-month period from November of this year through October of next year. (Do not round Intermediate calculations.) 2 12:16 a. How much interest. If any, can Jaxon deduct this year If his business uses the cash method of accounting for tax purposes? Deductible amount Required information [The following information applies to the questions displayed below) On November 1 of this year, Jaxon borrowed $36,000 from Bucksnort Savings and Loan for use in his business. In December, Jaxon poid interest of $3,240 relating to the 12 month period from November of this year through October of next year. (Do not round intermediate calculations.) 04 b. How much interest, if any, can Jaxon deduct this year if his business uses the accrual method of accounting for tax purposes? Deductible amount 0 3 Required information The following information applies to the questions displayed below) Kimberly is a self-employed taxpayer. She recently spent $1,500 for airfare to travel to Italy. What amount of the airfare is deductible in each of the following alternative scenarios? (Leave no answers blank. Enter zero if applicable) Part 3 of 4 8043134 c. On the trip, she spent six days on business activities and four day(s) on personal activities. Deductible amount 1 Required information (The following information applies to the questions displayed below! Sarah is a cash method, calendar-year taxpayer, and she is considering making the following cash payments related to her business. Calculate the after-tax cost of each payment assuring she is subject to a 37 percent marginal tax rate. (Do not round Intermediate calculation) 10 b. $4,800 to reimburse the cost of meals incurred by employees while traveling for the business. After-tax cost