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Abigail's hobby is sculpting. During the current year, Abigail sold three of her sculptures for a total of $3,200. Her related expenses include $1,500 in
Abigail's hobby is sculpting. During the current year, Abigail sold three of her sculptures for a total of $3,200. Her related expenses include $1,500 in utilities, $1,200 in supplies and $900 in depreciation. Of the total expenses incurred, Abigail may deduct
1. $1,500 in utilities, $1,200 in supplies and $900 in depreciation
2. $1,500 in utilities, $1,200 in supplies, and $500 in depreciation
3. $1,500 in utilities and $1,200 in supplies
4. $0
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2 1500 in utilities 1200 in supplies and 500 in depreciation Since the activity ...Get Instant Access to Expert-Tailored Solutions
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