2. Sarah, an accomplished artist, is well known regionally for oil portraits {business activity code TllSlU). She paints in the Photoreahsni style, providing her clients with portraits that are often mistaken for photographs. Painting in this style is very timeconsuming. Consequently, her output averages between 15 and 16 portraits a year. Her fee of $3,200 per portrait was set several years ago and never varies. As this is quite reasonable for a Photoreaiistic oil portrait, she has a long waiting list of clients who have not yet been scheduled for sittings. She does ail of her work in the studio the Clarlrs maintain in their personal residence {see item '5 below]. Sarah is a cash basis taxpayer with respect to her art business