Wahoo Inc., a calendar year taxpayer, leases equipment to a customer for $4,500 monthly rent. On November 27, 2016, Wahoo received a $36,000 rent payment for the eight-month period beginning on December 1. How much of the payment must Wahoo recognize as 2016 taxable income assuming that:
a. Wahoo uses the cash method of accounting for tax purposes?
b. Wahoo uses the accrual method of accounting for tax purposes?