acqueline owns a condominium on an island in Washington which was rented out all year for $30,000. She incurred the following expenses:

Mortgage interest	$1,300
Property taxes	800
Insurance	1,500
Utilities	1,800
Repairs	300
Depreciation	4,000

What amount of net income or loss does Jacqueline report from this rental property?

$0

$9,700 net loss

$20,300 net income

$30,000 net income