On December 15, Simon Corporation (a cash-basis, calendar-year corporation) paid $5,000 for five months of supplies and $9,000 for an insurance policy covering its office building for the next three...

On December 15, Simon Corporation (a cash-basis, calendar-year corporation) paid $5,000 for five months of supplies and $9,000 for an insurance policy covering its office building for the next three calendar years. How much can Simon deduct this year for these expenses?