Clyde operates a sole proprietorship using the cash method. This year, Clyde made the follo$$480$ to U$.$S$.$ Bank for $12$ months of interest accruing on a business loan from September $1$ oly $$160$ of interest accrued this year.$$600$ for $12$ months of property insurance beginning on July $1$ of this year.What is the maximum amount Clyde can deduct this year?Multiple Choice$$760$$$600$$$480$$$160$Prev