Alexa owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo: $ 2,000 6,500 Insurance Mortgage interest Property taxes Repairs and maintenance Utilities 2,000 1,400 2,500 14,500 Depreciation During the year, Alexa rented out the condo for 100 days. She did not use the condo at all for personal purposes during the year. Alexa's AGI from all sources other than the rental property is $200,000. Unless otherwise specified, Alexa has no sources of passive income. Assume there are 365 days in the year. Assume Alexa receives $30,000 in gross rental receipts. a. Compute Alexa's net rental income. (Amounts to be deducted should be indicated with a minus sign.) Gross rental income Expenses: Insurance Mortgage interest Property taxes Repairs & maintenance Utilities Depreciation Less: total expenses Balance-net rental income b. What effect do the expenses associated with the property have on her itemized deductions? Amount of itemized deductions