John Budd is the sole shareholder of Ral Corp., an accrual-basis taxpayer engaged in wholesaling operations. Ral’s retained earnings at January 1, 2020, amounted to $1 million. For the year ended December 31, 2020, Ral’s book income, before federal income tax, was $300,000. Included in the computation of this $300,000 was the following: On 12/1/20, Ral received prepaid rent of $27,000 from a tenant for a 3-year lease commencing 1/1/21 to cover rents for the years 2021, 2022, and 2023. In conformity with GAAP, Ral did not include any part of this rental in its income statement for the year ended 12/31/20. What amount should Ral include in its 2020 taxable income for rent revenue?