Dick owns a house that he rents to college students. Dick receives $800 per month rent and incurs the following expenses during the year:

Real estate taxes $1,250 Mortgage interest 1,500 Insurance 425 Repairs 562 Association dues 1,500 Dick purchased the house in 1979 for $48,000. The house is fully depreciated. Calculate Dick’s net rental income for the year, assuming the house was rented for a full 12 months.
Rental income $
Expenses:
Net rental income $