[The following information applies to the questions displayed below.] In January of year 0, Justin paid $8,400 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 0 in each of the following alternative scenarios? (Leave no answers blank. Enter zero if applicable.)

Problem 9-62 Part-c (Algo)

c. Justin pays $9,600 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: