Question: On November 1 , 2 0 2 3 , Dontrell entered into a lease on a building for use in his business for $ 1

On November 1,2023, Dontrell entered into a lease on a building for use in his business for $1,000 per month. Under the lease terms, Dontrell pays 24 months' rent ($24,000) in advance on November 1. How much can Dontrell deduct for rent in 2023?
a. $2,000
b. $12,000
c. $24,000
d. $18,000

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