Question: Exercise 5-1 (Algorithmic) (LO. 2) Shanna, a calendar year and cash basis taxpayer, rents property to be used in her business from Janice. As part

Exercise 5-1 (Algorithmic) (LO. 2) Shanna, a calendar year and cash

Exercise 5-1 (Algorithmic) (LO. 2) Shanna, a calendar year and cash basis taxpayer, rents property to be used in her business from Janice. As part of the rental agreement, Shanna pays $19,000 rent on April 1, 2020 for the 12 months ending March 31, 2021. Do not round any division. a. How much is Shanna's deduction for rent expense in 2020? $ b. Assume the same facts, except that the $19,000 is for 24 months' rent ending March 31, 2022. How much is Shanna's deduction for rent expense in 2020? $

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