52 of 75. Mike renovated his rental home and has the following expenditures: $1,200 for removal and replacement of drywall, $500 for painting the to replace all the tile floors. How much of the renovation will be considered an improvement if no special election is made? $13,000 $14,200 $14,800 $15,450 Mark for follow up Question 53 of 75. Which of the following statements accurately describes active participation? O Spending more than half the time in all trades or businesses in real estate activities and spending more than 750 hours in real estate activities. Involved in the activity's operations on a regular, continuous, and substantial basis. Providing 250 hours of personal service to the rental enterprise. Making management decisions like approving new tenants, deciding on rental terms, and approving expenditures. Mark for follow up platform