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Business, 05.05.2020 16:25 Frenchfries13

XYZ Corporation rented construction equipment in 2018 and 2019, which it used to build a storage facility. The total rent paid for the equipment was $40,000 with $10,000 paid in 2018 and $30,000 paid in 2019. The storage facility was completed in 2019. What amount of rent expense may XYZ Corporation deduct on its 2019 income tax return?
a. $30,000b. None of the answers are correct. c. $40,000d. $10,000

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