CT Computer Corporation, a cash-basis taxpayer, sells service contracts on the computers it sells. At the beginning of January of this year, CT Corporation sold contracts with service to begin immediately:One for three months$200One for 20 months 800One for 48 months 4,000The amount of income CT Corporation must report for this year is
A. $1,680.
B. $200.
C. $5,000.
D. $1,000.
Answer: C
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