28. For the years 2017 through 2021 (inclusive) Nicholas, a best-selling author, has been involved in operating an antique store. In 2017, 2018 and 2019 his revenue exceeded the expenses from the activity. In 2020 and 2021, the antique store generated a loss. Which statement is correct? A) The activity is a business. The IRS cannot prove it is a hobby. B) The activity is a hobby. Nicholas cannot prove it is a business. C) The activity is presumed to be a business. However, the IRS may prove it is a hobby. D) The activity is presumed to be a hobby. However, Nicholas may prove it is a business