Kate is an accrual basis, calendar-year taxpayer. On November 1, 2012, Kate leased out a building for $4,000 a month. On that day Kate received 6 months rental income on the building, a total of $24,000 ($4,000 ´ 6 months). How much income must Kate include on her 2012 tax return as a result of this transaction?
d. None of the above