CPA Associates, a cash basis partnership with a calendar tax year, signs a contract for a 20-month subscription to an on-line tax research service, effective as of April 1. The firm pays the full $10,000 subscription bill on the April 1, 2016 subscription start date. For 2016 the firm can deduct
◦ $10,000.
◦ $4,500.
◦ $5,500.
◦ $5,000.