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9. Dick owns a house that he rents to college students. Dick receives $800 per month rent and incurs the following expenses during the year:

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9. Dick owns a house that he rents to college students. Dick receives $800 per month rent and incurs the following expenses during the year: Real estate taxes $1,250 Mortgage interest 1,500 Insurance Repairs 562 Association dues 1,500 425 2. Additional MCM Dick purchased the house in 1979 for $48.000. The house is fully depreciated. Calculate Dick's net rental income for the vear, assuming the house was rented for a full 12 months Rental income Expenses: Net rental income

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