6. Taxpayer Bernard Baruch (Statement of Financial Position and Spending Plan attached) would like to purchase a second home on January 1, 2024. The cost would be $600,000. Bernard Baruch plans to take a mortgage of $300,000 and put $300,000 down. The annual projected expenses for the home (for 2024) are as follows: * Principal payments $ 8,000 * Mortgage interest payments $24,000 * Repair and maintenance $ 4,000 * Property Tax $12,000 * Depreciation (for the whole year) $20,000 Bernard would like to know how Bernard's income tax return would be affected, if at all, if Bernard bought this house (assume Bernard will be able to obtain the mortgage loan) and either: a. rented it for $48,000 for the entire year? OR b. allowed Bernard's son used the house for personal use for 90 days and Bernard rented the house for 270 days for $36,000