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4) Nicky owns The Miami Apartments. During the year, Ann, a tenant, moved to another state. Ann paid Nicky $1,500 to cancel the two-year lease

4) Nicky owns The Miami Apartments. During the year, Ann, a tenant, moved to another state. Ann paid Nicky $1,500 to cancel the two-year lease she had signed. Nicky then rented the apartment to Ellie who paid the first and last months' rents of $500 each and a security deposit of $800. What amount should be included in Rocky's income with regard to these items?

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