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2-68. Mort is the owner of an apartment building containing ten identical apartments. Mort resides in one apartment and rents out the remaining units. For
2-68. Mort is the owner of an apartment building containing ten identical apartments. Mort resides in one apartment and rents out the remaining units. For 2018, the following information is available: $21,600 Gross rents Utilities for total building Maintenance and repairs (rental apartments only) Advertising for vacant apartments Depreciation of building (all ten units) What amount should Mort report as net rental income for 2018? a. $12,750 2,500 1,050 300 4,000 b. $13,500 c. $13,750 d. $14,400 e. None of the above
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