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(Solved by Expert Tutors) Wagner co. is a cash basis, calendar year taxpayer. On august 1,2015,


it paid an insurance premium of $4800 for coverage from August 1, 2015 to july 31,2016.
a. What is the largest deduction Wagner co. can take in 2015?
b. If the premium is for coverage from August 1,2015 to JULY 31,2017.What is the largest deduction Wagner co. can take in 2015?

 

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Apr 19, 2020

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